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Gomes, Joao F. - 2011

We examine investment behavior when firms face costs in the access to external funds. We find that despite the existence of liquidity constraints, standard investment regressions predict that cash flow is an important determinant of investment only if one ignores q. Conversely, we also obtain...

Persistent link: https://www.econbiz.de/10013123265

What Finances R&D? R&D, Cash Flow Sensitivities, and Financing Constraints

Zhuang, Zhong - 2013

sources for innovation: young firms finance innovation through internal and external equity, while mature firms use cash flow …

Persistent link: https://www.econbiz.de/10013091799

Investment Provision of Innovative Development in Ukraine

Kozmenko, Serhiy - 2013

The paper analyzes potential for innovative growth in Ukraine, determines the major problems during the transition to innovative development, researches the present state of investment provision of innovative activities in Ukraine for every source of financing

Persistent link: https://www.econbiz.de/10013074339

Capital Investment and Determinants of Financial Constraints in Estonia

Hobdari, Bersant - 2009

Unlike previous empirical work concerning investment behavior and the determinants of liquidity constraints, we use a switching regression framework when sample separation is unknown and endogenous and firms are assumed to operate either in the financially constrained or in the financially...

Persistent link: https://www.econbiz.de/10013153374

Investment Frictions versus Financing Frictions

Kobayashi, Takao - 2009

Bertola/Caballero (1994) and Abel/Eberly (1996) extended Jorgenson's classical model of firms' optimal investment. By introducing investment frictions, they were able to capture the role of future anticipations in investment decisions as well as the lumpy and intermittent nature of investment...

Persistent link: https://www.econbiz.de/10013157853

Corporate Investment and the Exchange Rate : The Financial Channel

Banerjee, Ryan - 2020

Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These findings are consistent with the predictions of a...

Persistent link: https://www.econbiz.de/10012841849

Static and Dynamic Indicators in the Analysis of Internal Sources of Companies’ Investments Financing

Bukvic, Rajko - 2017

The Republic of Serbia is characterized by an unsatisfactory macroeconomic environment. Under the conditions of an evident shortage of liquid assets, the financial capital has moved from real to the financial sector, which led companies to over-indebtedness and shutdown of their own capacities....

Persistent link: https://www.econbiz.de/10012953816

The Role of Asset Tangibility on Corporate Investment Under Financial Constraints in Korea

Kim, Jinwoong - 2019

This paper investigates the possible role of asset tangibility on corporate's investment decision. As Almeida and Campello (2007) suggest, firm's asset tangibility could promote firm's borrowing ability by providing more collateral to financial intermediaries, reduce financial restriction, and...

Persistent link: https://www.econbiz.de/10012901382

The External Financing of Investment

Grundy, Bruce D. - 2019

Investment characteristics and the form of external financing are linked. Factor analysis indicates that the principal determinant of the financing choice is whether an investment's payoffs can be described as a hit or miss. Hit-or-miss investments are more likely to be equity financed. Equity...

Persistent link: https://www.econbiz.de/10012901729

Monetary Policy, Corporate Finance and Investment

Cloyne, James - 2019

We provide new evidence on how monetary policy affects investment and firm finance in the United States and the United … borrowing declines only for younger non-dividend payers, as their external finance is mostly exposed to asset value fluctuations …. Conversely, cash-flows change less markedly and more homogeneously across groups. Our findings highlight the role of firm finance …

Persistent link: https://www.econbiz.de/10012889726