In this paper we investigate to what extent firm investment in transition countries is sensitive to internal finance …

In this paper we investigate corporate investment behavior using a large panel of Hungarian firms between 1993 and 2002 …, the effect of user cost changes on investment is significant and robust across several specifications providing strong … evidence against simple sales-accelerator models of investment. Firms' cash-flow proved to be a significant determinant of …

This paper studies the asset pricing implications of a general equi- librium model in which real investment is … firm increase the size of the firm and reduce the value of growth options. As a result, the firm is burdened with more …

This paper studies optimal investment in sunk assets for a firm facing uncertain future demand and costs. The … investment problem is decomposed into decisions over scale and timing which are influenced by convex adjustment costs and the … feasibility of delaying investment. The value of the resulting real option to delay behaves as expected in response to increases …

In this paper, we examine net investment during the early stages of transition using micro data on the population of … models of investment and test if investment behavior varies across categories of ownership and with the legal status of firms …. Our analysis of depreciation leads us to the conclusion that replacement investment displays a similar pattern in many …

In this paper we investigate corporate investment behavior using a large panel of Hungarian firms between 1993 and 2002 …, the effect of user cost changes on investment is significant and robust across several specifications providing strong … evidence against simple sales-accelerator models of investment. Firms' cash-flow proved to be a significant determinant of …

This paper investigates erapirically the influence of uncertainty on corporate investment. Uncertainty of demand …, output prices and investment prices are measured by the standard deviation of (pre-)filtered Belgian (1984-1992) and Spanish … (1983-1993) panel data, and included as explanatory variables in the investment equations derived from a neo-classical model …

?s Investment Tests (IT) during the years 1988-1998, we create a panel with information on investment, innovation activity and … financing conditions. Financial constraints affect the distribution of investment over time in a fundamental way. Following a … on Schworm?s (1980) model of optimal investment under financial constraints, we use it to test the empirical content of …

financial constraints is fundamental to the analysis of monetary transmission, of financial stability and of growth and … relationship between investment activity and financial constraints is theoretically ambivalent due to simultaneity, the link … take longer to close capacity gaps. This indicates that financial constraints do indeed play a part in the investment …