This paper shows that currency arrangements impact on credit available through default incentives. To this end we build …-border purchases. We show that for a high enough level of this cost, currency integration may magnify default incentives, leading to …

In this paper we describe a theoretical model of optimal investment of various types of financially constrained firms …. We show that the resulting relationship between internal funds and investment is non-monotonic. In particular, the … magnitude of the cash flow sensitivity of the investment is lower for firms with credit rationing compared to firms that are …

The aim of this paper is to investigate the issue of R&D investment and the market value of the firm. This idea dating … estimating the marginal effects of R&D investment with Tobin's q on a small economy such as R. Macedonia. The results exert … positive and statistically significant relationship between market value of the firms and R&D investment …

investment by 24.3 to 48.5% during the COVID-19 crisis, compared to 19% during the Great Financial Crisis (GFC). Using historical … faced by corporates between investment and leverage. It also suggests that, should the estimated gap in net revenues … materialise as the result of the crisis, the decline in corporate investment would likely be within the computed ranges. …

affects firms' investment decisions. Our results show that uncertainty is negatively correlated with investment. Secondly, it …

In this paper, we model business investment distinguishing between ICT (communication equipment, hardware and software … characteristics potentially affecting the reactivity of capital accumulation over the business cycle.Business investment and ICT and … financial constraints and uncertainty influence investment behaviour (Hall and Lerner, 2010, and Bloom, 2007).Our findings …