model and produced results that are consistent with pecking order prediction. Financing behavior varies with financial …

, our aim is to shed a new light on this relationship. It is argued that a firm's observed investment and financing …

financing decisions can be obtained. Specifically, we focus on how firms finance -- and profit from -- investment projects for …

We examine the interaction between investment and financing policies in a dynamic model for a firm with existing assets …

maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most … of non-negative equity net worth or debt financing constraints and firms behave more conservatively in the use of initial … financing constraints higher volatility may enhance firm value for firms with relatively low revenue that have out …

maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most … of non-negative equity net worth or debt financing constraints and firms behave more conservatively in the use of initial … financing constraints higher volatility may enhance firm value for firms with relatively low revenue that have out …

negative relationship with growth type. Additionally, the sensitivity of equity-and-debt-financing-differential to market … conditions increases with investment style, reflecting a growth-type-aligned pecking order in financing. These findings … demonstrate that firms invest and seek financing in a manner compatible with their growth type. This suggests that informational …

-equation model in which firms make interdependent decisions in financing, investment, and distribution, under the constraint that … argue that, instead of focusing on R&D-cash flow sensitivities alone, it is more appropriate to study financing constraints … cash flow shocks than to accommodate positive ones. In addition, I find young and mature firms rely on different financing …

We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates …