shorter horizons and lower productivity projects. The theory guides a new identification of the slope of liquidity spread in … frictions can have significant effects on maturity choices and investment. A policy intervention improves liquidity, reduce long …-term financial costs and promotes investment in longer-term projects …

This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into … independence matters for both investment and financial decisions. Investment increases under an Independent Regulatory Agency (IRA … privately controlled. Finally political orientation does matter, as firm investment increases under more conservative (pro …