traditional investment self-financing, while no clear statistical evidence is found in the R&D case. Credit rationing is not …

We examine the link between corporate financing and investment decisions of European firms by using a novel firm …-level survey of the European Investment Bank (EIBIS). The survey provides rich quantitative information of a wide range of … financing sources and tangible and intangible investment types for a representative sample of EU28 firms in 2016. We provide new …

the aggregate shocks and the interaction between these shocks and the casual effects. We show that returns to investment …