In this paper we investigate corporate investment behavior using a large panel of Hungarian firms between 1993 and 2002 …, the effect of user cost changes on investment is significant and robust across several specifications providing strong … evidence against simple sales-accelerator models of investment. Firms' cash-flow proved to be a significant determinant of …

This paper investigates the effects of monetary policy on firms\u2019 investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …

This paper investigates the effects of monetary policy on firms' investment behaviour through the interest rate and … and firms of all sizes. We proceed in two steps. First, we estimate a reduced-form investment equation derived from the … neoclassical model, augmented by cash flow. This equation gives us the sensitivity of investment to the user cost, sales and cash …

change the agents financing conditions. According to the credit channel theory, investment elasticity to cash flow should … estimating a classical investment model (accelerator-profit) on a pseudo-panel database harmonised among European countries by … investment sensitivity to financing conditions is consistent with the credit channel theory and that this transmission channel of …

Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts … corporate investment and inflation on the sample of 21 OECD countries in the years 1960-2005. The obtained negative relationship … relationship: marginal effect on corporate investment is higher at inflation rates between 3 and 5.5 per cent. These results …

the negative effect of the user cost of capital on firms' investment ratio. Changes in user cost are significantly … lagged cash stock to capital ratio influence the investment behaviour according to the broad credit channel theory. It is …

their investment decisions. Moreover, financial con-straints become more severe in times of restrictive monetary policy. …

We estimate the effect of demand and price uncertainty on firms' investment decisions from a panel of manufacturing … investment, while price uncertainty is insignificant. This is consistent with the behavior of monopolistic firms with … irreversible capital (Caballero, 1991). Further, firms revise their investment plans very little. They may do so in response to new …