We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes … the costs of external borrowing and (ii) a real options channel-reflecting firms' option values to delay investment. We … find evidence of the coexistence of both channels. Financially weaker firms reduce investment by more in response to higher …

asset management firms with their clients. In the market connecting investment professionals with the information they need …

. When a firm seeks external financing for its investment opportunities, information asymmetry arises between the firm and … investment opportunities of these firms. We then examine conditions under which the role of cross-owners is likely to be greater … and higher corporate investment. Our paper offers insight into the role of cross-ownership in reducing moral hazard and …