[eng] The aim of this article is to test the assumption of complementarity between leasing and “ traditional” borrowing on the basis of the estimation of an Euler equation for investment incorporating an agency premium, measured for firms using leasing in two consecutive years and for firms...

This paper investigates three pitfalls concerning the test of the Euler equation facing quadratic adjustment costs and perfect capital markets on a large balanced panel data of 4025 french firms. First, the quadratic parameterization of adjustment costs is too restrictive, and power series...