We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … future shortfalls in operating income. In contrast to earlier work, our joint estimation approach shows that cash flows … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow …

We survey recent microeconometric research on investment and employment that has used panel data on individual firms or … theory of the demand for capital and labour, on which most of the econometric models of investment and employment that we … topics that have been the focus of recent microeconometric research on investment and employment. In particular, we review …

In this paper we describe a theoretical model of optimal investment of various types of financially constrained firms …. We show that the resulting relationship between internal funds and investment is non-monotonic. In particular, the … magnitude of the cash flow sensitivity of the investment is lower for firms with credit rationing compared to firms that are …

We estimate the set of panel and spatial panel data models of employment and investments for 379 Polish counties over … includes about 30,000 observations. We find that SSEs have substantial positive effects on employment: jobs in a given SSE …, they add one to one to capital stock in hosting county. Our findings are robust to changes in estimation methods, sample …