A simple contracting environment with a creditor who has wealth and a entrepreneur who has a two-period investment … creditor prefers a contract that commits him not to refinance if and only if the extent of moral hazard problem is sufficiently …

We study how interest alignment between CEOs and corporate boards influences investment efficiency and identify a novel … force behind the benefit of misaligned preferences. Our model entails a CEO who encounters a project, gathers investment …

We study a buyer's optimal investment strategy for new technologies when costs evolve stochastically and are private … leads to delays in investment compared to the real option benchmark. We also suggest a payment structure that implements the … buyer's optimal investment timing as a Vickrey-type auction …

In the leveraged loan sector, firms borrowing from non-banks have worse profitability and lower investment following …

investment. Firms anticipate information spillover from peers’ investment decisions and delay project exercise to learn from … skilled. Finally, our results suggest that the anticipation of peer information dampens aggregate investment …

The relationship between investment efficiency and investment transparency is investigated using a sample of Australian … investment efficiency may influence the informativeness of investment disclosures, and present evidence that investment … achieve higher profitability and cash flow from operations surrounding the investment announcements, and that high sales …

histories of each firm and study performance measures at the transaction and investment levels. Many investments result in total … differing returns even in the same investment. This arises not just because they invest on different terms, but because they … indicative of the market frictions associated with early-stage investment in innovation …

Impact investment has emerged as a socially aware response to contemporary socioeconomic challenges. The combined … pursuit of investment efficiency with proactive furtherance of socially beneficial goals appears particularly relevant in an … of impact investment: its origins, philosophy, taxonomy and evolution. The key research dilemma addressed herein boils …