favorable loan package; that it is associated with over-investment even when investment does not create collateral; and that low …

the different response of business confidence and private investment. …

data and triple-difference estimators, we find that this dividend tax cut affects allocation of corporate investment. Cash …-constrained firms increase investment after the dividend tax cut relative to cash-rich firms. Reallocation is stronger among closely … and by higher dividends in cash-rich firms after the tax cut. The heterogeneous investment responses imply that the …

ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a …