This paper studies how people in certain country view their status relate to corporate investment decisions. Utilizing the data from the World Happiness Report published by the United Nations Sustainable Development Solutions Network, we find that country's overall happiness is positively...

Dieser Beitrag untersucht die Beziehung verschiedener Konzepte von investiven Ausgaben in Unternehmen, ihre Verbindung zu Innovationen und die Faktoren, die Innovations- und Investitionsentscheidungen von Unternehmen beeinflussen. Neben dem traditionellen Investitionsbegriff, der sich...

This study examines the consequences of loan denials for the investment performance of small and medium-sized German enterprises. As a consequence of a loan denial, innovative companies experience a smaller drop in the share of actual to planned investment than non-innovative companies. The...

We examine how the regulatory burdens affect the investment and innovation of newly public firms. To do so, we exploit the Jumpstart our Business Start-up (JOBS) Act, which eliminates certain disclosure, auditing, and governance requirements for a subset of newly public firms. Firms treated with...

We analyze the spillover effect of fixed asset investment incentive on firm innovation by estimating the influence of China's value-added tax reform in 2004 with a difference-in-difference-in-differences (DDD) approach. We find that fixed asset investment incentive significantly reduces firm...

This paper shows that political capital is an important determinant of corporate investment and innovation. Using unexpected exits of legislators from the U.S. Congress, I find that a firm that suddenly loses political capital increases capital investment and R&D spending. Surprise losses of...

We examine two important channels through which corporate social responsibility (CSR) affects firm value: investment efficiency and innovation. We find that firms with higher CSR performance invest more efficiently: these firms are less prone to invest in negative NPV projects (overinvestment)...

In our model multiple innovators compete against each other by submitting investment proposals to an investor. The investor chooses the least expensive proposal and the timing of the investment. Innovators have to provide costly, but observable effort and they learn privately the cost of...

Eighty-two percent of public firms have golden parachutes (or “chutes”) under which CEOs and senior officers may be paid tens of millions of dollars upon their employer's change in control. What justifies such extraordinary payouts?Much of the conventional analysis views chutes as excessive...

This study examines the consequences of loan denials for the investment performance of small and medium-sized German enterprises. As a consequence of a loan denial, innovative companies experience a smaller drop in the share of actual to planned investment than non-innovative companies. The...