) and gross investment (INV) in physical capital. The evidence accruing from a dynamic panel data estimation indicates an … as a response to previous physical capital investment with an ultimate goal of inducing higher rates. Theoretical models … like Spiegel and Spulber [1997, RAND Journal of Economics] highlight that effect. The present paper considers a panel data …

. By taking annual data of the telecom industry from 2012 to 2020 in the USA, unbalanced cross-sectional data (panel data … equity combination. In the discussed sample of the telecom industry in the USA, an abnormally high total liability …) comprising 421 firm-year observations for 72 firms were studied using pooled panel regression, univariate analysis, correlation …