Using a newly constructed panel dataset of German enterprises, I estimate R&D and capital investment equations for the … time period from 1990 to 1994. Simple accelerator specifications indicate considerable sensitivity of R&D and investment to … account, but a significant positive relationship between cash flow and investment remains for relatively small firms. In the …

In this paper we have estimated a behavioural equation for R&D investment. We assess the impact of liquidity … estimation is performed on an industry level panel covering fifteen European countries from 1996 to 2005 and on a sample of …

We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … future shortfalls in operating income. In contrast to earlier work, our joint estimation approach shows that cash flows … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow …

We study the time-varying effects of Tobin's q and cash flow on investment dynamics in the USA using a vector … variation over time of the response of investment to shocks in both variables. The time-varying sensitivity of investment to a … show that, although Tobin's q and cash flow are complementary sources of information for investment decisions, their …

This paper explores the employment impact of innovation activity, taking into account both R&D expenditures and … ETC is included as a proxy for innovation activities. Moreover, the positive employment impacts of innovation activities …

LSDVC estimates, this study finds a significant labourfriendly impact of R&D expenditures. However, this positive employment …

In this paper we describe a theoretical model of optimal investment of various types of financially constrained firms …. We show that the resulting relationship between internal funds and investment is non-monotonic. In particular, the … magnitude of the cash flow sensitivity of the investment is lower for firms with credit rationing compared to firms that are …