equilibrium model, we find that a firm increases investment in response to external product market threats. Further, the paper … analyzes whether product market threats lead to an improvement in investment efficiency. When faced with product market … competition, we find that firms that are otherwise likely to underinvest (overinvest) increase (increase) their investment …

investment and expected returns. In imperfectly competitive industries, a firm's exposure to systematic risk is jointly affected … by its own investment strategy and the investment strategies of its industry peers, such that the dynamics of its …

We study the drivers of investment in Italy during the global financial crisis and the sovereign debt crisis. We focus … investment rate of 1.9 and 1.4 percentage points (36 and 41 per cent of its mean) during each crisis. We also find that expected …. Overall, ex-ante high firm indebtedness has been an important driver of the lower investment rate over the last decade …

This paper shows that political capital is an important determinant of corporate investment and innovation. Using … capital investment and R&D spending. Surprise losses of political capital result in negative announcement returns, reduced …

' investment, growth and financial constraints. Combining propensity score matching with a difference-in-differences estimator, our …