Investment Irreversibility and Finance Constraints
AbstractThis paper analyzes the investment behavior of firms in the presence of irreversibility and of a dividend payout constraint. Estimation of investment equations for a panel of U.K. firms shows that the Q model performs well over regions of the sample space where neither constraint is likely to be binding. The constraints are able to account for the empirical significance of cash flow variables for the remaining firms in the sample. Copyright 1997 by Blackwell Publishing Ltd
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.
Volume (Year): 59 (1997)
Issue (Month): 1 (February)
Contact details of provider:
Postal: Manor Rd. Building, Oxford, OX1 3UQ
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0305-9049
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Andrea Caggese, 2003.
"Financing Constraints, Irreversibility, and Investment Dynamics,"
FMG Discussion Papers
dp440, Financial Markets Group.
- Caggese, Andrea, 2007. "Financing constraints, irreversibility, and investment dynamics," Journal of Monetary Economics, Elsevier, vol. 54(7), pages 2102-2130, October.
- Andrea Caggese, 2001. "Financing Constraints, Irreversibility, and Investment Dynamics," Working Papers 53, Barcelona Graduate School of Economics.
- Andrea Caggese, 2001. "Financing constraints, irreversibility and investment dynamics," Economics Working Papers 1008, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2006.
- Guariglia, Alessandra & Tsoukalas, John & Tsoukas, Serafeim, 2012. "Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies," Economics Letters, Elsevier, vol. 117(3), pages 582-584.
- Lensink, Robert & Sterken, Elmer, 2000.
" Capital Market Imperfections, Uncertainty and Corporate Investment in the Czech Republic,"
Economic Change and Restructuring,
Springer, vol. 33(1-2), pages 53-70.
- Lensink, R. & Sterken, Elmer, 1999. "Capital market imperfections, uncertainty and corporate investment in the Czech Republic," Research Report 99E51, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Richard Holt, 2004. "Investment, Irreversibility, and Financial Imperfections," ESE Discussion Papers 54, Edinburgh School of Economics, University of Edinburgh.
- Richard Holt, 2004.
"Investment and Dividends under Irreversibility and Financial Constraints,"
ESE Discussion Papers
55, Edinburgh School of Economics, University of Edinburgh.
- Holt, Richard W. P., 2003. "Investment and dividends under irreversibility and financial constraints," Journal of Economic Dynamics and Control, Elsevier, vol. 27(3), pages 467-502, January.
- López Martín, Mª Del Carmen & Rodero Franganillo, Adolfo, 2005. "Los activos de las instituciones de inversión colectiva de carácter financiero/Assets by Financial Institutions for Collective Investment," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 23, pages 93-124, Abril.
- Alan Carruth & Andy Dickerson & Andrew Henley, 1998.
"What Do We Know About Investment Under Uncertainty?,"
Studies in Economics
9804, Department of Economics, University of Kent.
- Carruth, Alan & Dickerson, Andrew & Henley, Andrew, 2000. " What Do We Know about Investment under Uncertainty?," Journal of Economic Surveys, Wiley Blackwell, vol. 14(2), pages 119-53, April.
- Alessandra Guariglia & John Tsoukalas & Serafeim Tsoukas, . "Investment, irreversibility, and financing constraints in transition economies," Discussion Papers 10/03, University of Nottingham, School of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.