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Is real investment fully determined by fundamentals or is it sometimes affected by stock market misvaluation? We introduce three new tests that: measure the reaction of investment to sales shocks for firms that may be overvalued; use Fama-MacBeth regressions to determine whether overinvestment...
Persistent link: https://www.econbiz.de/10010294043
Evidence that cash flow has a significant effect on investment after controlling for Tobin's average Q has been interpreted as suggesting the importance of financing constraints. Recent work shows that the Q model may not be identified if there are `bubbles' in stock market valuations that are...
Persistent link: https://www.econbiz.de/10005022119
This paper analyses the effects of government policies on flows of private finance for investment in renewable energy … (inducement effect). It also examines whether direct provision of public finance for a project increases the volume of private … finance raised (“crowding in” effect). A unique dataset of financial transactions for renewable energy projects with worldwide …
Persistent link: https://www.econbiz.de/10011276613
Mitigating climate change requires aligning real economy investments with climate objectives. This pilot study measures the climate consistency of investments in transport infrastructure and vehicles in Latvia between 2008 and 2018, estimated at EUR 1.5 billion per year on average. To do so,...
Persistent link: https://www.econbiz.de/10012422659
This paper presents results from a first pilot study to measure the consistency of real economy investments with climate change mitigation objectives. The analysis focuses on investments in infrastructure and equipment in the manufacturing industries in Norway between 2010 and 2017, estimated at...
Persistent link: https://www.econbiz.de/10012180399
labor of women adversely affects labor productivity. (New paragraph) Analysis of finance engenders discussion of its place …
Persistent link: https://www.econbiz.de/10011193715
Persistent link: https://www.econbiz.de/10012233048
Les interrogations nombreuses au sujet des PME en restent généralement à un constat d' insuffisance de fonds propre, confondant ainsi problème de financement et nature de celui-ci. En outre elles trouvent leur origine dans une comparaison abusive avec les grandes entreprises, ignorant des...
Persistent link: https://www.econbiz.de/10005561653
Can decentralization of firms be successful in an environment with weak institutions? Decentralization can do a great job for improving firms' efficiency and competitiveness by creating opportunities for quicker and more competent decision-making and enhancing motivation of employees. However,...
Persistent link: https://www.econbiz.de/10011902283
Can decentralization of firms be successful in an environment with weak institutions? Decentralization can do a great job for improving firms' efficiency and competitiveness by creating opportunities for quicker and more competent decision-making and enhancing motivation of employees. However,...
Persistent link: https://www.econbiz.de/10011894265