as a response to previous physical capital investment with an ultimate goal of inducing higher rates. Theoretical models …) and gross investment (INV) in physical capital. The evidence accruing from a dynamic panel data estimation indicates an … with the notion that the size of the firmś investment project can impose a restriction on the amount of new debt. The …

relationship with its workforce. The paper shows that investments into physical productive assets enhance the enforceability of … relational contracts and hence investments optimally are "too high". …

heterogeneous tax sensitivity of firm-level investments across firm types. We econometrically test the theoretical predictions … investment of small entrepreneurial and larger managerial firms in different financial regimes that are largely in line with …