financially turbulent periods in the 2000s in making investment decisions and in meeting demand for liquidity. A rise in … uncertainty regarding the ability to obtain external funds may have induced firms to rely on internal funds to finance investment … activities. Therefore, we shed light on the cash flow sensitivity of investment and cash holdings by estimating firm- level …

highlights future investment and financing challenges, especially for road transport. The methodology piloted in this study can …

This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …

This paper analyses the implications of corporate indebtedness for investment following large economic shocks. The … suggest that investment of high-debt firms is significantly depressed for an extended period in the aftermath of economic …% higher than that of firms with lower debt burdens. The negative impact of high debt on investment is most evident for firms …

emerging markets. The paper measures the risk of short-term exposure by estimating, at the firm level, the effect on investment … not find that this reduction in net worth translates into a drop in investment. …

This paper investigates the relationship between a firm's investment decision and its financial situation. We present a … model of investment, where the cost of external finance is increasing in the debt ratio. The model is estimated using a …

their investment decisions. Moreover, financial con-straints become more severe in times of restrictive monetary policy. …