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saving-investment balance. The results show that budget deficit, economic growth, FDI and financial intermediation are the …
Persistent link: https://www.econbiz.de/10011623376
The corporate finance literature documents that managers tend to overinvest into physical assets. A number of theoretical contributions have aimed to explain this stylized fact, most of them focussing on a fundamental agency problem between shareholders and managers. The present paper shows that...
Persistent link: https://www.econbiz.de/10011285326
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The corporate finance literature documents that managers tend to over-invest in their companies. A number of theoretical contributions have aimed at explaining this stylized fact, most of them focusing on a fundamental agency problem between shareholders and managers. The present paper shows...
Persistent link: https://www.econbiz.de/10011895831
Persistent link: https://www.econbiz.de/10014530677
We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow … sensitivities are particularly intense for unconstrained firms with high hedging needs. Investment opportunities (as proxied by Q …
Persistent link: https://www.econbiz.de/10011306337
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In this paper, we use firm-level survey data to explore the determinants of SME investment activity and the extent to … which observed investment is in line with that suggested by economic fundamentals. In contrast to previous literature which … has focused on whether investment gaps exist at a more aggregate level, we find evidence that for SMEs actual investment …
Persistent link: https://www.econbiz.de/10011805629