firms' investment ratio. Changes in user costs are significantly affected by changes in the monetary policy indicator. In … addition, firm specific balance sheet characteristics, such as the lagged cash stock to capital ratio influence the investment …

investment from 1990 to 1999 through the cost-of-capital and the cash-flow channels. We compare several specifications of neo …

This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …

We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing … investment, while price uncertainty is insignificant. This is consistent with the behavior of monopolistic firms with … irreversible capital (Caballero, 1991). Further, firms revise their investment plans very little. They may do so in response to new …

spur investment in innovation (R&D). We characterize which firms should substitute production for innovation in the face of …

level investment sensitivity to cash flow is used to identify financing constraints. We find that the sensitivities are … importantly, the cash flow sensitivity of investment is lower in countries with better-developed financial markets. This suggests …

firms to contract investment, employment, and assets. The legal reform may distort investment and asset allocation decisions …

Using individual firm data, this study analyzes the credit channel in Austria. The estimation is based on an … 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 …