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capital, financing, and investment plans. We study whether firms faced with MCs use both non-cash (NEM) and cash generating … external funding and investment. Our findings suggest that MC firms use CEM because it directly generates cash to fund MCs …
Persistent link: https://www.econbiz.de/10013006538
This study examines the impact of non-financial disclosure (NFD) on firms' labor investment efficiency. We analyze a … evidence reveals that this association is, in general, negative, with NFD exerting a positive influence on labor investment …
Persistent link: https://www.econbiz.de/10014494790
investment using firm-level data from around the world to see whether the legal environment, including corporate governance and … monitoring mechanisms, and financial development are important in the profitability of capital investment.Research Findings …/Insights: Using firms in 40 countries over the period 1988–2004, we find that the causality from earnings to capital investment is …
Persistent link: https://www.econbiz.de/10014257141
This paper studies how labor flexibility and mobility induced by the gig economy, affects corporate investment, by … innovative. Our findings provide evidence on the effect of the holdup problem in the labor market on corporate investment, and on …
Persistent link: https://www.econbiz.de/10014257631
We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow … sensitivities are particularly intense for unconstrained firms with high hedging needs. Investment opportunities (as proxied by Q …
Persistent link: https://www.econbiz.de/10011306337
We examine whether capital flows more to high Tobin's q industries and find that it flows more to high q industries from 1971 until 1996 but not from 1997 to 2014. This change is due to a decrease in the q-sensitivity of equity funding resulting mostly from the increased q-sensitivity of...
Persistent link: https://www.econbiz.de/10011969138
are controlled by private equity funds, these firms exhibit a significant decline in investment and growth. I also use … free cash flows are due to significant reduction in investment post-LBO and not operating improvements. These reductions …
Persistent link: https://www.econbiz.de/10012899450
Using a newly constructed panel dataset of German enterprises, I estimate R&D and capital investment equations for the … time period from 1990 to 1994. Simple accelerator specifications indicate considerable sensitivity of R&D and investment to … account, but a significant positive relationship between cash flow and investment remains for relatively small firms. In the …
Persistent link: https://www.econbiz.de/10011621855
Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with...
Persistent link: https://www.econbiz.de/10008654164
Practitioners and academics have long assumed that financial markets value the deal-specific legal terms of public company acquisition agreements, yet legal scholarship has failed to subject this premise to empirical scrutiny. The conventional wisdom is that markets must value the tremendous...
Persistent link: https://www.econbiz.de/10013103781