basis. The costs will be particularly quantified in financing only by equity and only by debt capital and particularly in …

financially turbulent periods in the 2000s in making investment decisions and in meeting demand for liquidity. A rise in … uncertainty regarding the ability to obtain external funds may have induced firms to rely on internal funds to finance investment … activities. Therefore, we shed light on the cash flow sensitivity of investment and cash holdings by estimating firm- level …

highlights future investment and financing challenges, especially for road transport. The methodology piloted in this study can …

This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt … sources of funds. Our results also suggest that even moderate levels of debt can exert a negative influence on investment for …

suggest that investment of high-debt firms is significantly depressed for an extended period in the aftermath of economic …% higher than that of firms with lower debt burdens. The negative impact of high debt on investment is most evident for firms …This paper analyses the implications of corporate indebtedness for investment following large economic shocks. The …

emerging markets. The paper measures the risk of short-term exposure by estimating, at the firm level, the effect on investment … not find that this reduction in net worth translates into a drop in investment. …

model of investment, where the cost of external finance is increasing in the debt ratio. The model is estimated using a …This paper investigates the relationship between a firm's investment decision and its financial situation. We present a … relationship between a firm's debt ratio and its marginal return to capital. This indicates that firms with high debt ratios have …

investment or disinvestment and/or mergers and acquisitions (M&As). We show theoretically how the choice of adjustment strategy …

their investment decisions. Moreover, financial con-straints become more severe in times of restrictive monetary policy. …