Kalatzis, Aquiles Elie Guimarães; Azzoni, Carlos Roberto - In: International Journal of Production Economics 120 (2009) 2, pp. 595-606
This study analyses the investment decision of 497 Brazilian firms during a period of unstable macroeconomic conditions. The role of financial constraints is considered in a Bayesian econometric model. We estimate three different models, and the results indicate the presence of financial...