-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 …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow. -- Financial constraints ; investment …

rents than for investment opportunities have become more important within industries. For these firms, repurchases increase …

This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in …

We employ a Bayesian estimation technique to construct firm-varying investment-cash flow sensitivities (ICFS) for a … firm-level ICFS-estimates both univariately and multivariately. The results indicate that firms with high ICFS are capital …-intensive firms with high-growth rates that have exhausted much of their debt-capacity. Furthermore, high ICFS-firms have lower …

entails changes in real corporate actions. We document a positive relation between abnormal trading volume, future investment … expenditures, and fi nancing cash flows. This positive relation is not subsumed by the arrival of investment-related news or other …

analyze the relationship between investment and internal cash flows. The results indicate that the investment sensitivity to … VC-backed SME investment. The moderation effect of VC ownership reduces the magnitudes of the positive impact of cash … flows and debt as well as the negative effect of growth opportunities on investment in both smaller and larger VC …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow. …