This paper investigates the financial determinants of research and development (R&D) investment in Asia, where …&D investment to changes in cash flow, indicating reliance on internal financing of R&D and financially constrained firms, and a … cash flow sensitivity of R&D investment, suggesting more stable funding of innovation. Overall, there does not seem to be …

We employ a Bayesian estimation technique to construct firm-varying investment-cash flow sensitivities (ICFS) for a …

-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 paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the … effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q …, however the investment function is characterized by an upper bound that depends on the firm´s borrowing capabilities. The firm …

The paper develops a model of firm's investment under uncertainty with financial market imperfections and analyzes the … effects of financial constraints on firm's investment. Firm's investment is an increasing function of the firm's marginal q …, however the investment function is characterized by an upper bound that depends on the firm's borrowing capabilities. The firm …

generates novel implications for the impact of renegotiable debt on covenant and investment policies …

firms. Our model shows that when the demand shock has higher volatility, the firm finances the investment cost with high …We develop a model to examine the timing of investment decisions in relation to the issuance of convertible debt by … tend to defer investments. Furthermore, we examine the investment decisions in which the convertible debt includes a call …

investment policies of newly founded firms. Thereby, the analysis adds important new insights on a crucial segment of the economy … financial crisis. Our panel data analysis shows that the global financial crisis imposed a shock (mostly demand-driven) on the …