This paper examines the sensitivity of investment to cash flow using a panel of UK firms in manufacturing with a view to shedding some light on the existence of a balance sheet channel or financial accelerator. In addition to examining the impact of cash flow in different subsamples based on...

We study the design of revenue-maximizing mechanisms for value-maximizing agents with budget constraints. Agents have return-on-spend constraints requiring a minimum amount of value per unit of payment made and budget constraints limiting their total payments. The agents' only private...

Several football stadiums were built or renovated in France for hosting the 2016 UEFA European Football Championship. This study examines to which extent the financial support by local governments for stadium construction or renovation induces soft budget constraints (SBC) for professional...