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Financial Constraints for Investment in Brazil
Crisóstomo, Vicente Lima - 2014
The purpose of this work is to verify the existence of financial constraints for investment in Brazil, an emerging … market with growing international visibility. Using panel data methodology and GMM, we estimate dynamic investment models … based on the Euler equation and Tobin's q for a panel dataset of 199 Brazilian nonfinancial firms for the time period 1995 …
Persistent link: https://www.econbiz.de/10013064330
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Financial constraints for innovation in Brazil
Crisóstomo, Vicente Lima; López-Iturriaga, Félix Javier - In: Latin American business review : journal of the … 12 (2011) 3, pp. 165-185
Persistent link: https://www.econbiz.de/10009388366
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The Impact of Intellectual Property Protection on MNEs’ Decisions to Invest in Developing Countries : Empirical Evidence from New Swiss Firm-Level FDI Panel Data
Hold, Arno - 2015
multinational enterprises (MNEs) in developing countries. Applying different panel data techniques to a newly-created comprehensive …
Persistent link: https://www.econbiz.de/10013033949
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Firm Investment and Credit Constraints in India, 1997-2006 : A Stochastic Frontier Approach
Bhaumik, Sumon K. - 2011
We use the stochastic frontier approach to estimate the impact of firm characteristics on investment decisions of Indian firms during the 1997-2006 period. The use of the stochastic frontier approach allows us to define the (unobserved) optimum investment that is consistent with a firm's...
Persistent link: https://www.econbiz.de/10013129983
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Optimal Corporate Investment and Financing Policies : A Simple Quantitative Rule in a Novel General Setting
Romaniuk, Katarzyna - 2011
We aim at obtaining a simple quantitative rule for the joint determining of optimal corporate investment and financing policies in an intertemporal setting. A novel general continuous-time framework, inspired by the optimal portfolio design literature, is first built. We derive the optimal...
Persistent link: https://www.econbiz.de/10013132507
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Uncertainty, Investment Spikes, and Leverage Adjustments
Im, Hyun Joong - 2020
We study the effects of uncertainty on corporate leverage adjustments with respect to investment spikes and find that overlevered and underlevered firms behave very differently in response to the combination of uncertainty and investment spikes. Overlevered firms facing high uncertainty converge...
Persistent link: https://www.econbiz.de/10012855716
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Anomalies
Li, Erica X. N. - 2010
We take a simple q-theory model and ask how well it can explain external financing anomalies, both qualitatively and quantitatively. Our central insight is that optimal investment is an important driving force of these anomalies. The model simultaneously reproduces procyclical equity issuance...
Persistent link: https://www.econbiz.de/10013149934
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Multinational versus national firms on capital adjustment costs : a structural approach
Lapatinas, Athanasios - 2015
This paper provides an alternative perspective on the firm-level empirical analysis of the relation between foreign ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a sample of 4,672 Belgian firms for the period 2003 -...
Persistent link: https://www.econbiz.de/10011290859
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Chapter 65 Microeconometric Models of Investment and Employment
Bond, Stephen; Van Reenen, John - In: Handbook of econometrics : volume 6A, (pp. 4417-4498). 2007
We survey recent microeconometric research on investment and employment that has used panel data on individual firms or … for dynamic factor demand equations in the context of micro panel data for firms or plants. We then discuss a number of …
Persistent link: https://www.econbiz.de/10014024950
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Internal Finance and Corporate Investment : Belgian Evidence with Panel Data
Barran, Fernando - 2011
In this paper the corporate investment decision under financial restrictions is investigated with Belgian firm data from 1984 to 1992. An investment Euler equation is derived from a dynamic optimization model with debt ceilings and an elastic credit supply. The model is estimated by GMM for...
Persistent link: https://www.econbiz.de/10013124260