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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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A rise by any other name?: sensitivity of growth regressions to data source
Hanousek, Jan; Hájková, Dana; Filer, Randall - 2007
Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...
Persistent link: https://www.econbiz.de/10010274158
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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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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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Net worth ratio and financial instability
Watanabe, Toshio - In: Journal of Economic Structures 2 (2013), pp. 1-18
formulate a model of financing. New Keynesian theory emphasizes that a firm's net worth influences investment decisions and … banks lending reaction to the net worth ratio is more elastic than investment reaction. When the steady state is the saddle …
Persistent link: https://www.econbiz.de/10011551998
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Controlling a stock pollutant with endogenous investment and asymmetric information
Karp, Larry; Zhang, Jiangfeng - 2001
Non-strategic firms with rational expectations make investment and emissions decisions. The investment rule depends on … taxes create a secondary distortion at the investment stage, unless a particular condition holds; emissions quotas do not …-house gases. The endogeneity of investment favors taxes, and it increases abatement. …
Persistent link: https://www.econbiz.de/10011608857
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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