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Investment, protection, ownership, and the cost of capital
Himmelberg, Charles P.; Hubbard, R. Glenn; Love, Inessa - 2002
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011506547
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Effects of Tax Depreciation Rules on Firms' Investment Decisions: A Comparison of European Transition Countries
Nam, Chang Woon; Radulescu, Doina Maria - In: CESifo DICE Report 01 (2003) 2, pp. 52-55
Persistent link: https://www.econbiz.de/10011696432
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Regulation and Investment in Network Industries: Evidence from European Telecoms
Grajek, Michał; Röller, Lars-Hendrik - 2009
We provide evidence of an inherent trade-off between access regulation and investment incentives in telecommunications … accommodates: different investment incentives for incumbents and entrants; a strategic interaction of entrants' and incumbents … investment. Thus promoting market entry by means of regulated access undermines incentives to invest in facilities …
Persistent link: https://www.econbiz.de/10010352072
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Capital Accumulation and Growth : A New Look at the Empirical Evidence
Schiantarelli, Fabio; Leblebicioglu, Asli; Bond, Steve - 2004
We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker … coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on …
Persistent link: https://www.econbiz.de/10010261921
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Regulation and investment in network industries: Evidence from European telecoms
Grajek, Michał; Röller, Lars-Hendrik - 2009
We provide evidence of an inherent trade-off between access regulation and investment incentives in telecommunications … accommodates: different investment incentives for incumbents and entrants; a strategic interaction of entrants' and incumbents … investment. Thus promoting market entry by means of regulated access undermines incentives to invest in facilities …
Persistent link: https://www.econbiz.de/10010270806
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Investment spending, equilibrium indeterminacy, and the interactions of monetary and fiscal policy
Lubik, Thomas A. - 2003
guarantee existence. When investment adjustment costs are introduced, the monetary and fiscal policy dichotomy is in principle …
Persistent link: https://www.econbiz.de/10010293451
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Non-convexities in the Adjustment of Different Capital Inputs: A Firm-level Investigation
Del Boca, Alessandra; Galeotti, Marzio; Rota, Paola - 2003
Recent developments in investment research have highlighted the importance of non-convexities and irreversibilities in … and structures and construct measures of fundamental Q to capture investment opportunities associated with each asset. To … uncover the pattern of dynamic adjustment we use non-parametric techniques to relate each individual investment to own …
Persistent link: https://www.econbiz.de/10011325051
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Investment Size and Firm's Value Under Profit Sharing Regulation
Moretto, Michele; Panteghini, Paolo M.; Scarpa, Carlo - 2003
's investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a … total investment. We also evaluate the reduction in the firm's value due to profit sharing, linking this reduction to the …
Persistent link: https://www.econbiz.de/10011325118
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Anticipated and Experienced Emotions in an Investment Experiment
Bosman, Ronald; van Winden, Frans - 2001
decreases investment substantially. Theseresults are neither in line with expected utility theory norwith psychologically …This paper experimentally investigates investment behavior.We find that global risk – i.e. risk independent of an agent …’sinvestment decision (like political risk) – substantiallydecreases investment. Also effort to obtain the capital usedfor investment …
Persistent link: https://www.econbiz.de/10010324995
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Neutrality-based effective tax rates
Knirsch, Deborah - 2002
discriminatory taxation of investments. Moreover, the comparison of different ETRs displays which investment is distorted to a higher …
Persistent link: https://www.econbiz.de/10010333019