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Low investment rates are a puzzling phenomenon particularly in transition economies with an urgent need for … modernisation. The literature offers two alternative explanations: imperfect capital markets and investment reluctance due to real … real option effects may lead to erroneous conclusions in the context of empirical investment equations …
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Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...
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Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...
Persistent link: https://www.econbiz.de/10013096390
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