The purpose of this paper is to investigate the possible role of asset tangibility (mainly collateral) on corporate’s investment decision. To satisfy the purpose, we highlight the differences of corporate investment behaviors between the 1990s and the 2000s considering its financial phase. The...

This paper investigates the possible role of asset tangibility on corporate's investment decision. As Almeida and Campello (2007) suggest, firm's asset tangibility could promote firm's borrowing ability by providing more collateral to financial intermediaries, reduce financial restriction, and...