Inventories And Fixed Investment
We model fixed investment incorporating the inventory decision of the firm. Using Dutch listed nonfinancial firms during 1985-2000, we find that the inventory stock is negatively associated with fixed investment. The results suggest that the inventory stock may be used by the firm as a buffer in response to unexpectedly high demand. In addition, the firm may hold the inventory stock as a contingency substitute for the financial source of fixed investment. Copyright Blackwell Publishing Ltd/University of Adelaide and Flinders University of South Australia 2004.
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Volume (Year): 43 (2004)
Issue (Month): 4 (December)
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