We develop an integrated theory of investment, seasoned equity offerings (SEOs), liquidation, and corporate savings … payout policies. Facing costly external financing, the firm prefers to fund its investment internally, so that its optimal … substantial delay in investment; (4) A financially constrained firm over-invests in early stages of its life-cycle in an effort to …

We provide theoretical and empirical evidence that policy uncertainty can significantly affect firm level investment … dynamic, heterogeneous firms model we show that: (i) investment and entry into export markets is reduced when trade policy is …

efficient initial unobservable investment. If no learning about this investment occurs, an extreme "lemons problem" develops, no … invest. If the market operates with spot prices, simple regulation can enhance the role of reputation to induce investment …

. These comovements generate large credit risk premia for investment grade firms, which helps address the "credit spread …

An important class of investment decisions is characterized by unrecoverable sunk costs, resolution of uncertainty … guidance in such settings, including an investment decision rule called the "bad news principle": the downside investment state … influences the investment decision whereas the upside investment state is ignored. This study takes a new approach to examining …

ground in integrating investment in generation and storage capacity with chronological operation of the system, including 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 …

We develop a dynamic model of trading and investment with limited aggregate resources to study investment cycles …. Unverifiable idiosyncratic investment opportunities imply market prices to play a role of rent distribution, distorting private … investment incentives from a social point of view. This distortion is price-dependent, leading to two-sided inefficient …