accelerator specification of investment demand augmented by the liquidity ratio and a firm specific user cost of capital. The … significant for young firms due mainly to the fact that young firms rely more heavily on sales to increase investment. In general … it is found that firms can reduce the sensivity of investment to their liquidity position by building lending …

We investigate monetary policy effects on corporate investment adjustment, using a sample of China’s A-share listed … corporate investment adjustment is faster in expansionary than contractionary monetary policy periods. Monetary policy has a … monetary policy and adjustment, with a greater effect in expansionary periods. This study enriches the corporate investment …

We investigate the transmission of monetary policy to investment using Norwegian administrative data. We have two main … that firm heterogeneity plays a minor role in monetary transmission. Second, we disentangle the investment channel of … investment channel of monetary policy is due almost exclusively to direct effects. The two results imply that a representative …

) to the monetary policy. I find that SOEs’ investment declines by 5% - 12% more than nonSOEs after a 100 basis point … empirical results. I show that, via a rise of shadow banking relative to bank loans, a monetary tightening shock raises the … credit spread of SOEs to nonSOEs, which further slows down the investment of SOEs compared to nonSOEs …

This paper examines the sensitivity of investment to cash flow using a panel of UK firms in manufacturing with a view … debt accumulation), we also investigate the extent to which investment becomes more sensitive to cash flow in periods of … pioneered by Romer and Romer. The results provide some support for the view that UK firms show greater investment sensitivity to …

bank-level dataset to assess at a quarterly frequency how changes in the U.S. Federal funds rate (before the crisis) and … the existence of a potent global bank lending channel. In response to changes in U.S. monetary conditions, U.S. banks … strongly adjust their cross-border claims in both the pre and post-crisis period. However, we also find that U.S. bank …

This paper analyzes the implications of the gradual rise in bank concentration since the 1990s for the transmission of … the level of local bank concentration and bank capitalization. I find that banks operating in high-concentration markets … in local deposit and loan markets, along with bank capital requirements, lead to frictions on the pass-through to the …

In this paper I document two new facts. First, bank net-interest margins (NIM) are insensitive to the short rate on … find that this cross sectional heterogeneity is driven by differences in bank business models. Second, bank NIM sensitivity …. The positive relationship between net-interest income and non-interest expenses is somewhat consistent with investment …

decrease investment. The effect of Treasury purchases is different: either positive or insignificant in most cases. Our results … to the economy through the bank lending channel …