more capital investment does not seem to contribute to higher national economic growth or to higher corporate profitability …. Instead, greater utilization of capital and human resources does seem to contribute to economic performance …

This paper empirically verifies that the types of capital adjustment costs serve as an important mechanism in relation … affect busin ess cycles. Specifically, it is found through empirical methods using corporate financial data that capital … economy. In particular, capital adjustment costs are empirically proven to cause investment dispersion to expand given that …

with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital … investment and physical capital. We find that a conventional specification – quadratic adjustment costs for capital and no hiring … costs – performs poorly. Rather hiring and investment flows, unlike employment and capital stocks, are volatile and both are …

whose abundance differs across countries. Third, we showthat the composition of capital has the potential to account for …