multinational enterprise regarding the cross border distribution of its investment and the choice of its financing behavior. We …

-corporate sectors in Germany. In doing so, we perform a counterfactual analysis and ask how the allocation of capital across sectors …

?s Investment Tests (IT) during the years 1988-1998, we create a panel with information on investment, innovation activity and … financing conditions. Financial constraints affect the distribution of investment over time in a fundamental way. Following a … on Schworm?s (1980) model of optimal investment under financial constraints, we use it to test the empirical content of …