We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25 …,000 listed companies across 47 countries over the last two decades. We find higher leverage reduces investment but show the … leverage observed during the last decade and as a result of the Covid-19 pandemic, physical investment is expected to remain at …

This paper documents the existence of a CEO Investment Cycle, in which disinvestment decreases over CEO tenure while … investment increases, leading to “cyclical” firm growth in assets as well as in employment. The estimated variation in investment … constraints. This investment cycle appears to reflect CEOs' preference for investment growth, which leads to increasing investment …

Our research tests the difference in investment efficiency between state-owned enterprises (SOEs) and private firms and … then evaluates the effect of privatisation and equitisation policies on the investment efficiency of former state owned … spending. We find no evidence of investment spending being linked to marginal returns by SOEs across all sectors and size …

This paper investigates whether investment spending of firms is sensitive to the availability of internal funds …. Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are … not independent. The relation between corporate investment and free cash flow is investigated using the Bond and Meghir …

We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow … sensitivities are particularly intense for unconstrained firms with high hedging needs. Investment opportunities (as proxied by Q …

analysis further identifies sources of financing in these subsectors and discusses future investment and financing challenges …

We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a …, as firms with poor investment and growth opportunities may have a higher probability of being credit constrained. We … implement several strategies to overcome this obstacle: proxies for investment opportunities, lagged regressors, random effects …

investment and cash balances have increased. In sum, the data provide little basis for the view that short-termism in the EU …

This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …

pay back debt. In the long run, the allocation of undistributed cash to investment, retained earnings, and debt repayment …