Informationally driven capital market imperfections may lead to a systematic relation between expenditure on used capital and the severity of liquidity constraints. We project used capital outlays on internal finance across sectors of different sizes documenting that the sensitivity of used...

We investigate the relative importance of sector and country factors in explaining the variation of leasing penetration rates across industries in Europe. According to our results, country effects represent the dominant driving factor for leasing when compared to sector effects. An explanation...

In the present study we initially take stock of the dispersed definitions and measurement methods of irreversibility by offering a bird's eye view of the existing literature. Then we construct a closed-form model to investigate the impact of conditional uncertainty on investment spending under...