. Often this problem is ignored in the theory of investment, not only because depreciation is exogenous, but also due to the … interdependence with investment decisions. The approach is based on the view that the flow of undepreciated capital is an output to be …

This paper is a contribution to the small but growing literature that compares the investment and R&D behavior of … of a simple error-corrected investment model for both ordinary investment and for R&D investment, a model that … incorporates both output (sales or turnover) and cash flow as predictors for investment. Our focus is on two comparisons: France …

This paper studies managerial decisions about investment in long-run projects in the presence of imperfect information … imperfection present and the direction of the distortion. When investors cannot observe the level of investment in long …-run projects, suboptimal investment will be induced. When investors can observe investment but not its productivity, however, an …

We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth …) firm growth independent of firm size, as stated in the so-called Gibrat's law, and (iii) R&D investment proportional to …

technology of private investment. Government policies that discourage saving might make the Schumpeterian vision of a shift from …

taxes may thus change the investment behavior of firms. Using an international panel with many changes in payout taxes, we … show that this prediction holds well. Payout taxes have a large impact on the dynamics of corporate investment and growth …. Investment is "locked in" in profitable firms when payout is heavily taxed. Thus, apart from any aggregate effects, payout taxes …

How do public and private information affect equilibrium allocations and social welfare in economies with investment …

What is the best way to incorporate a risk premium into the discount rate schedule for a real investment project with … uncertain payoffs? The standard CAPM formula suggests a beta-weighted average of the return on a safe investment and the mean … return on an economy-wide representative risky investment. Suppose, though, that the project constitutes a tail …