-equation model in which firms make interdependent decisions in financing, investment, and distribution, under the constraint that … and debt for R&D financing. R&D and physical capital investment are likely to be complementary for mature, but not for …

The investment literature has long acknowledged the time- and frequency-varying dynamics of the relationship between … investment, Tobin's Q and cash flow. In this paper, we use continuous wavelet tools to estimate and assess the relationship … complementary sources of information for investment, the former being more important for firms' investment decisions in the medium …

It is well documented that since at least the 1970s investment-cash flow (I-CF) sensitivity has been decreasing over … time to disappear almost completely by the late 2000s. Based on a neoclassical investment model with costly external …

In this paper we use balance-sheet data and information on bankruptcy to study the relationship between investment …-2011, which also allows us to study the impact of the 2008 crisis on Czech companies. Using investment-cash flow sensitivity to … significant impact on the investment rate. By taking a closer look at individual subsamples we reveal that the existence of …

investor “rationality,” the relation must be “explained” by a risk (factor) model. The investment approach questions the … approximations of firm-level investment returns. The evidence that characteristics dominate covariances in horse races does not …” expected returns; the investment approach is no more and no less “causal” than the consumption approach in “explaining …

known as intangibles, suggest that their share in overall investment has grown considerably. Still, intangible investment is … rarely present in investment models. In this paper, I extend the q-theory of investment to model explicitly the decision of … movements in the measurement of the contribution of each type of investment to the overall capital stock. In particular, given …

stocks for the entire Compustat universe, as well as an array of estimates of investment flows, economic depreciation rates …, and capital and investment price deflators. The firm-level current-cost investment rate distribution is heavily right …-skewed, with a small fraction of negative investment rates, 5.51%, but a huge fraction of positive investment rates, 91 …

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … evidence, and quantify the relevance for monetary transmission to aggregate investment …

investor “rationality,” the relation must be “explained” by a risk (factor) model. The investment approach questions the … approximations of firm-level investment returns. The evidence that characteristics dominate covariances in horse races does not …” expected returns; the investment approach is no more and no less “causal” than the consumption approach in “explaining …

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 …