repurchase to gain an immediate, risk free, and corporate tax free wealth transfer from uninformed shareholders, instead of … undertaking a real investment with long term, risky, and taxable payoff. We also find U.S. firms reduce their R&D intensity by … investment opportunities. Evidently, financial slack at an undervalued firm does not necessarily alleviate the underinvestment …

We investigate the firm level investment responses to narrative shocks to average personal and corporate tax rates …

that monetary policy, relative risk in fixed investment, and the risk-adjusted return gap between financial and fixed … influenced by their ownership characteristics. It is remarkable to note that the relative risk in fixed investment and …. Meanwhile, firms’ financial investment witnesses influence of the rate of the risk-adjusted return gap between financial and …

' precautionary motives and investment delays. Policy uncertainty adversely affects the value of cash to shareholders of firms with … from deploying cash for investment. In contrast, policy uncertainty has a positive effect on the value of cash to …

We present a comparable set of results on the monetary transmission channels on firm investment for the four largest … euro-area countries (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing … channel. For each of those countries, we estimate neoclassical investment relationships, explaining investment by its user …

firms in the European Union affects peer private firms. We find that private firms’ capital investment decreases … significantly after the IFRS mandate, relative to public firms. Private firms also display decreased investment when benchmarked … increasing public firms’ financing and investment, crowds out funding for private firms. The effect is more pronounced for larger …