We study the extent to which countries undergo structural change during and after episodes of sustained investment …) exports diversification, and (iii) capital goods imports. Using the episodes identified by Libman et al. (2019), we document … systematically related to changes in sophistication, complexity and diversification of exports, at least for the available sample of …

This study examines how the effect of uncertainty on capital investment varies between focused firms and conglomerate … frictions, I find that uncertainty, measured by industry-level stock return volatility, has a negative effect on investment … among focused firms but has no statistically significant effect on investment among conglomerate segments. I also show that …

consumption, portfolio allocation, financing, investment, and business exit decisions. The optimal capital structure is determined … by a generalized tradeoff model where leverage via risky non-recourse debt provides significant diversification benefits … equity further improve diversification and raise the entrepreneur's valuation of the firm. Finally, entrepreneurial risk …

We analyze a unique dataset from a survey of CFOs of diversified firms to examine four areas of diversification and … internal capital markets: causes and financing effects of corporate diversification, capital budgeting processes, capital … investment methods, and reallocation policies in internal capital markets. CFOs see the main financial benefits of being …

A recently much debated issue is why observed investment and growth rates inpoor countries are lower than traditional … theory predicts. Empirical evidencesuggests that social and political instability is a major reason for thedivergence between … poor and rich countries. However, there is still the unsolvedpuzzle that the relationship between development and …