them set up as Foreign Direct Investment (FDI). This industry offers a peculiar advantage as a laboratory for social … science when exploring cash-flow sensitivity: given time to build, investment decisions depend on the expectations of the long … buffer stock for liquidity of financially constrained firms. Although the reinvestment of multinationals' earning is …

We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow … sensitivities are particularly intense for unconstrained firms with high hedging needs. Investment opportunities (as proxied by Q …

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis … persistent and growing investment gap. The amplification effect was present for SMEs with both volatile and stable cash holdings …

"Retained Earnings Foreign Direct Investment" (REFDI), macroeconomics has so far overlooked its particularities. This paper … cyclicality. Moreover REFDI deepens the saving-to-investment correlation (Feldstein-Horioka puzzle), unlike the rest of FDI …

This paper investigates the relationship between financing constraints and investment cash flow sensitivities by … categories. The idea is that high cash reserves increase the ability of firms to undertake profitable investment opportunities … financial crisis. The results show that constrained firms exhibit greater investment to cash flow sensitivities than …

We empirically examine the effect of exposure to temporary and persistent cash flow shocks on firm investment and its … link with cash holdings. Theoretical models demonstrate that an expectation channel drives a wedge between the investment …

explore corporate data to investigate how economic uncertainty affected investment, dividend payouts and cash holdings, based … of England. These data demonstrate that heightened economic uncertainty lowered investment even after controlling for … investment opportunities, sales growth, and the firm's own stock volatility. Economic uncertainty also explains the rise in cash …

dynamic model featuring corporate physical and intangible investment, cross-border decisions, and financial policies. I find …