The study investigates the role of financial development in boosting the investment efficiency of firms' investments in … concludes that firms suffering from under- (over-) investment problem due to financing constraints (agency problem), are more … likely to increase (decrease) their investment' in the response of underlying financial development in the economy. This …

investment-cash flow sensitivity as a metric to represent finance constraint of firms can be misleading. This is because cash … flow apart from signaling change in net worth may also signal investment opportunities of firms. Following Hovakimian and … investment opportunities unless they are financially constrained. We study private Indian manufacturing firms in the period 1994 …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generate realistic correlations between investment, q, and cash flow …

The paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the … effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q …, however the investment function is characterized by an upper bound that depends on the firm´s borrowing capabilities. The firm …

The paper develops a model of firm's investment under uncertainty with financial market imperfections and analyzes the … effects of financial constraints on firm's investment. Firm's investment is an increasing function of the firm's marginal q …, however the investment function is characterized by an upper bound that depends on the firm's borrowing capabilities. The firm …

Distortions in capital markets can create financial constraints that deter firms from pursuing optimal investment plans …. This paper explores how much these constraints affect investment by ownership type in China, using a panel data model … face greater financial constraints than state-owned enterprises (SOEs), as POE investment plans depend more on the …

We apply the Q-Theory investment model to a panel of high-tech firms listed on the Chinese stock market during 2008 and …

financing constraints of R&D investment or not. Finally, the paper further investigates the interaction of financial development … and firm characteristics (including firm size, ownership nature and establishment time) on the impact of R&D investment …. The results show that the degree of financing constraint is negatively correlated with R&D investment. Both the …