We use the stochastic frontier approach to estimate the impact of firm characteristics on investment decisions of …) optimum investment that is consistent with a firm's characteristics such as the Tobin's q during each firm-year, and then … estimate the deviation from this unobserved optimum in the form of an (investment) efficiency score that varies between zero …

examine (i) the relation between reporting quality and financing and investment conditional on this change, and (ii) firms …' reporting quality responses to the change in financing capacity. We find that financing and investment by firms with higher … reporting quality is less affected by changes in real estate values than are financing and investment by firms with lower …

examine (1) the relation between reporting quality and financing and investment conditional on this change, and (2) firms …' reporting quality responses to the change in financing capacity. We find that financing and investment by firms with higher … reporting quality is less affected by changes in real estate values than are financing and investment by firms with lower …

This paper uses a unique experiment conducted as part of the Investment Survey of the European Investment Bank (EIB) to … provide novel evidence on firms' preferences over loan characteristics and the relation between terms of credit and investment …

rates are positively related to investment opportunities, R&D intensity, multinational status, and whether firms are located …