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Persistent link: https://www.econbiz.de/10009547159
The authors model the channels through which public expenditure on infrastructure influences firm value and shapes its investment decisions via both adjustment costs and marginal profitability of capital. The authors test these hypotheses using a large panel of Italian firms. Empirical results...
Persistent link: https://www.econbiz.de/10013107308
We model the channels through which public expenditure on infrastructure influences firm value and shapes its investment decisions via both adjustment costs and marginal profitability of capital. We test these hypotheses by using a large panel of Italian firms. Empirical results show that...
Persistent link: https://www.econbiz.de/10003814730