It has long been known that firms prefer internal to external finance for funding their investments. William Baumol (1965, p.74) clearly articulated what would be called a "financing hierarchy" by ...
Investment in equipment and machinery is a very important component of GDP. In this paper we examine whether data from business tendency surveys are useful for a timely assessment of current ...
We study thee ffect of asset liquidity ("tangibility") on firm policies in the presence of financing constraints. We do so in areal options framework that allows for the simultaneous determination of ...
This paper examines the relation between cash-flow availability and investment spending in the Netherlands. In particular, we are interested whether managerial discretion and/or asymmetric ...
In this paper, we present a few simple market-timing strategies that appear to outperform the "buy-and-hold" strategy, with real-time data from 1970 to 2000. Our focus is on spreads between the E/P ...
Economics ebook and intro to Economic analysis: Introduction to Economic Analysis.pdf, covers Economic Analysis, Oligopoly, Monopoly, Investment, Positive Theories, Normative Theories, Economic ...
The paper presents a switching regression model of investment decision, where the probability of a firm facing financial constraint is endogenously determined. The approach, therefore, obviates the ...
We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that ...
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This fun, interactive, and engaging financial education program is designed for both self-paced, individuallearning and classroom use. These Instructor Guides are designed to help you share this ...