Unlike previous empirical work concerning investment behavior and the determinants of liquidity constraints, we use a … through 2002 we find that: (i) investment behavior is characterized by two distinct regimes; (ii) the likelihood of being … essentially stable during the whole period under consideration; (iv) ownership structure affects investment beyond its indirect …

investment, sales, profits, value and markups, the timing of firm responses to shocks, and the relationship between investment …

Previous studies argued that low investment-cash flow sensitivities of German firms may be caused by dominance of … panel data approach show that the dependence of investment spending on internal funds does not significantly differ between …

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

We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of … adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment … shocks. In these periods, firms incur lower cuts in investment expenditures when they can obtain extra credit. In periods of …

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 …

We employ a Bayesian estimation technique to construct firm-varying investment-cash flow sensitivities (ICFS) for a …-intensive firms with high-growth rates that have exhausted much of their debt-capacity. Furthermore, high ICFS-firms have lower …

We develop a model to examine the timing of investment decisions in relation to the issuance of convertible debt by … firms. Our model shows that when the demand shock has higher volatility, the firm finances the investment cost with high …. We also find that firms with high-growth prospection, high volatility, and low capital costs that issue convertible debt …

-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 …