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Economic policy uncertainty and corporate investment: Evidence from China
Wang, Yizhong; Chen, Carl R.; Huang, Ying Sophie - In: Pacific-Basin Finance Journal 26 (2014) C, pp. 227-243
This paper studies how economic policy uncertainty influences corporate investment for Chinese listed companies. We show that when the degree of economic policy uncertainty is higher, firms stand to lower their investment and vice versa. However, firms that have higher return on invested...
Persistent link: https://www.econbiz.de/10010753131
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Corporate investment, government control, and financing channels: Evidence from China's Listed Companies
Firth, Michael; Malatesta, Paul H.; Xin, Qingquan; Xu, … - In: Journal of Corporate Finance 18 (2012) 3, pp. 433-450
We investigate the relation between the internally generated cash flows and fixed asset investments of Chinese firms and find that it is U-shaped. Cash flow and investment are negatively related for low levels of cash flow but positively related for high levels of cash flow. We find that...
Persistent link: https://www.econbiz.de/10010577620
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Chinese foreign direct investment in Europe follows conventional models
Dreger, Christian; Schüller, Margot; Schüler-Zhou, Yun - In: DIW economic bulletin 7 (2017) 14/15, pp. 155-160
This report examines China’s strategy for investing in Europe. While investing in Western Europe is primarily about … reciprocity should be introduced within the framework of an investment protection agreement between the EU and China. This could …
Persistent link: https://www.econbiz.de/10011632262
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Corporate sector currency mismatch in Hungary
Endrész, Marianna; Gyöngyösi, Gyõzõ; Harasztosi, Péter - In: MNB Bulletin 8 (2013) 2, pp. 12-20
Our analysis of micro data shows that the size of unhedged foreign currency lending has become significant not just in the household sector, but in the corporate sector as well. The weight of foreign currency debtors without net foreign currency income was significant prior to the crisis. During...
Persistent link: https://www.econbiz.de/10010898286
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China's OFDI and the economic growth : from the perspective of natural resource
Feng, Ling; Ge, Lulan - In: International studies of economics 17 (2022) 3, pp. 311-333
Using a country-level panel data set of China's outward foreign direct investment (OFDI) during 2003-2015, we find that … China increases its direct investment in an economy endowed with natural resources, which increases the exports of the … resources to China. Facilitated by the industry-level data between 2003 and 2008, we further show that the increase of China …
Persistent link: https://www.econbiz.de/10013454405
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La situation des entreprises industrielles en 2006.
CAYSSIALS, J-L.; GOLFIER, C.; KENDAOUI, L.; KREMP, E. - In: Bulletin de la Banque de France (2007) 167, pp. 55-76
En 2006, l’activité industrielle s’accélère, soutenue par les PMI. Elles réduisent leur taux d’endettement alors que les grandes entreprises augmentent le leur ; les holdings portent désormais plus du tiers de l’endettement bancaire des groupes industriels.
Persistent link: https://www.econbiz.de/10009201083
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Collateral and capital structure
Rampini, Adriano A.; Viswanathan, S. - In: Journal of Financial Economics 109 (2013) 2, pp. 466-492
We develop a dynamic model of investment, capital structure, leasing, and risk management based on firms' need to collateralize promises to pay with tangible assets. Both financing and risk management involve promises to pay subject to collateral constraints. Leasing is strongly collateralized...
Persistent link: https://www.econbiz.de/10010678713
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Business groups and financial constraints: evidence from Pakistani group affiliated firms
Saeed, Abubakr; Sameer, Muhammad - In: Journal of Developing Areas 49 (2015) 2, pp. 355-361
We test whether group affiliation reduces the financial constraints for the affiliated firms in Pakistan. Results reveal that group affiliated firms are not financially constrained. Further, we find evidence for an internal capital market in business groups that reduces the financing constraints...
Persistent link: https://www.econbiz.de/10011213010
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THE INVESTMENT ACTIVITY AND THE FINANCING PROBLEMS DURING THE CRISIS IN ROMANIA
POPA, Ana; PhD Prof.; BĂNDOI, Anca; PhD Assoc. prof.; … - In: Annals of University of Craiova - Economic Sciences Series 1 (2009) 37, pp. 53-66
:This article treats the correlation between the investment projects and financing difficulties in a vicious circle during the crisis. First of all, Romania, as the whole world, should reconsider the planning problems, taking into consideration two problems: from one point of view, the nowadays...
Persistent link: https://www.econbiz.de/10008862622
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Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform
Gourio, François; Miao, Jianjun - In: American Economic Journal: Macroeconomics 2 (2010) 1, pp. 131-68
To study the long-run effect of dividend taxation on aggregate capital accumulation, we build a dynamic general equilibrium model in which there is a continuum of firms subject to idiosyncratic productivity shocks. We find that a dividend tax cut raises aggregate productivity by reducing the...
Persistent link: https://www.econbiz.de/10008615386