This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in …

investments and property prices may affect building activity. Here, the method of cointegration is used to estimate the wealth … effect and the investment effect in aggregate time series for Germany after the Reunification in 1990. Moreover, we discuss …

factors (mainly, cash flows and other controlling variables) on corporate investment. By employing system-GMM estimation for … borrowing activities but also results in more corporate investment activities over the period from 2006 to 2016. Noticeably, the … internal cash flow is also significant factor, which enhances the activities of corporate investment. Finally, there are …

processes, implying that cointegration is a necessary condition both for consistent estimation of the parameters of the model … and compatibility between the model and the data. Tests find little support for cointegration and, together with an out …