investment decisions via both adjustment costs and marginal profitability of capital. We test these hypotheses by using a large …

Investment in physical capital at the micro level is infrequent and large, or lumpy. The most common explanation for … costs make investment lumpy at the micro level, even in the absence of non-convex adjustment costs. When collecting and … behavior results in infrequent and possibly large capital adjustments. The model fits plant-level investment rate moments well …

This paper studies the asset pricing implications of a general equi-librium model in which real investment is …

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms …

Does an institutional change that eases exit via bankruptcy reform enhance venture growth? We take advantage of a quasi … only increases the rates of bankruptcy and founding, but more importantly improves the likelihood of high growth ventures … capital) to start firms. In turn, these individuals are more likely to launch high growth ventures. Broadly, we contribute at …