Unlike previous empirical work concerning investment behavior and the determinants of liquidity constraints, we use a … through 2002 we find that: (i) investment behavior is characterized by two distinct regimes; (ii) the likelihood of being … essentially stable during the whole period under consideration; (iv) ownership structure affects investment beyond its indirect …

We study the impact of the concentration and complexity of the banking sector on firms' financing and investment … increases investment sensitivity to aggregate productivity shocks …

Does corporate debt overhang affect investment over the medium term? To better uncover this association, I argue that … investment: a 10 p.p. increase in the three-year change in the leverage ratio is associated with 5% lower capex investment after …

Does corporate debt overhang affect investment over the medium term? To uncover this association, I measure debt … to cut permanently back on investment: a 10 percentage point increase in the three-year change in the leverage ratio is … associated with lower investment growth of 5 percentage points after five years compared to the most resilient firms. I also find …

We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25 …,000 listed companies across 47 countries over the last two decades. We find higher leverage reduces investment but show the … leverage observed during the last decade and as a result of the Covid-19 pandemic, physical investment is expected to remain at …

distressed if it breached the minimum capital requirements set by law. The results demonstrate that all the investment …-related factors matter for financial distress, with timing, intensity, sector, and type of investment all playing a role. Furthermore …, the data seem to suggest that investment in tangibles is more cycle-sensitive for the transport and construction and real …

The study investigates the role of financial development in boosting the investment efficiency of firms' investments in … concludes that firms suffering from under- (over-) investment problem due to financing constraints (agency problem), are more … likely to increase (decrease) their investment' in the response of underlying financial development in the economy. This …

investment methods, and reallocation policies in internal capital markets. CFOs see the main financial benefits of being …

Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is … the investment cash flow sensitivity among panel data of American industrial firms during 1999-2010. Using Q-model of … investment (Tobin, 1969), we construct and introduce a proxy of managerial optimism following Malmendier and Tate (2005a) to show …

investment cash flow sensitivity and various CEO characteristics in either the existence or inexistence of managerial optimism …. Using a Q-investment model and departing from a sample of 475 annual observations, our results highlight that CEO …'s financial education, CEO's ownership and their optimism bias can explain distortions in corporate investment policy since they …