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 …

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 …

significant amplifying role for market uncertainty in the relation between sentiment and aggregate investment. A one …-standard-deviation increase in uncertainty more than doubles the effect of sentiment on investment. Moreover, allowing uncertainty …, and investment measures. We also document similar effects for aggregate equity issuance. Consistent with theory, we find …

Methodologically, the recommended investment project (IP) selection system is distinguished from one in force by: new … conception allowing for time factor; evaluating IP efficiency by eventual reproduction results, not by intermediate investment … the investment success criterion …

reverting processes are rarely used in investment models in the literature. In most models, geometric Brownian motion processes … investigations of aggregate industry investment …

This paper deals with capital budgeting decisions under uncertainty. We present an Aggregate Return On Investment (AROI … constitutes a link between arbitrage choice theory and corporate investment theory, and shows that explicit discounting is not …

taxes impair subsidiary-level investment efficiency. Consistent with internal agency conflicts between the central …-level investment efficiency while reducing the level of investment. Our paper provides timely empirical evidence to inform expectations …

ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a …

of these externalities, and also whether there are policy measures that can enhance the welfare of investment subsidy. We … associated with green investment subsidy). We study the factors that influence the timing of investment subsidy, which in our … model explains the activity in a given investment subsidy market. If the subsidy is offered early we expect there will be …

ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a …