This paper identifies endogenous and exogenous indicators of firms' investment activity, and examine, in particular …, the effect that these variables have in co-determining firms' investment decisions. Two channels of spillovers from …

This study investigates whether economic policy uncertainty (EPU) magnifies peer effects in corporate investment in …' investment activities, we show that peer effects are stronger when EPU is higher. We also find that greater EPU lowers the …

This paper deals with capital budgeting decisions under uncertainty. We present an Aggregate Return On Investment (AROI … constitutes a link between arbitrage choice theory and corporate investment theory, and shows that explicit discounting is not …

reverting processes are rarely used in investment models in the literature. In most models, geometric Brownian motion processes … investigations of aggregate industry investment …

investment. The model shows that increasing uncertainty will reduce the time horizon as well as investment. Moreover, the …

firm investments, proxied by total, short- and long-term investment. The results remain robust when we control for the … shift their investment from long- to short-term investment, given their unaffected credit ratings after undesirable … sovereign rating events. Conversely, firms’ investment is unaltered by the sovereign upgrades. Our findings also confirm that …

investment. Combining Italian aggregate and firm-level data, we show that firms reduced their investment and reallocated … assets can be used as collateral while intangibles cannot, thus reallocating resources towards tangible investment to offset …