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Fundamentals, Misvaluation, and Investment. The Real Story
Chirinko, Robert S.; Schaller, Huntley - Department of Economics and Finance Research and … - 2006
Is real investment fully determined by fundamentals or is it sometimes affected by stockmarket misvaluation? We … introduce three new tests that: measure the reaction of investment to sales shocks for firms that may be overvalued; use Fama … misvaluation into standard investment equations to estimate the quantitative effect of misvaluation on investment. Overall, the …
Persistent link: https://www.econbiz.de/10005572020
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The European Central Bank and the Financing Conditions of Small and Medium-Sized Enterprises in Europe
Belke, Ansgar; Verheyen, Florian - In: Rivista di Politica Economica (2014) 2, pp. 199-215
Small and medium-sized enterprises (SMEs) play a crucial role in innovation, economic growth and job creation. Generally, SMEs face special problems when trying to access funding. Their situation is further complicated by the European economic crisis and a fragmentation of financial markets in...
Persistent link: https://www.econbiz.de/10010858714