effect of the investment decision on transport costs biases empirical results. The empirical estimations rely on newly … the endogeneity of the investment decision. Our results confirm that transport prices are influenced by both the distance …

related with corporate efficiency. These results point to the fact that high investment sensitivity to cash flow may not be … switching regression models (SRM) incorporating a predicted corporate efficiency index are estimated in this paper in an effort …'s constrained credit status changes with the improvement of its efficiency. The results further reveal that financially constrained …