On the interaction of financial frictions and fixed capital adjustment costs: evidence from a panel of German firms

DOI10.1016/J.JEDC.2008.02.004MaRDI QIDQ2654414zbMATH OpenOpenAlexFDO

Authors Christian Bayer

Publication date 19 January 2010

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2008.02.004

zbMATH Keywords

imperfect capital marketsinvestmentnon-convex adjustment costsnon-linear panel cointegration

Mathematics Subject Classification ID

Time series, auto-correlation, regression, etc. in statistics (GARCH) (62M10) Applications of statistics to actuarial sciences and financial mathematics (62P05) Statistical methods; risk measures (91G70)

Recommendations

• The role of non-convex costs in firms' investment and financial dynamics
• A Panel Analysis of Liquidity Constraints and Firm Investment
• Dynamic Investment Models and the Firm's Financial Policy
• Investment decisions with financial constraints. Evidence from Spanish firms
• Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics

Cites work

• A Theory of Debt Based on the Inalienability of Human Capital
• Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S, s) Approach
• Fully Modified Least Squares and Vector Autoregression
• Initial conditions and moment restrictions in dynamic panel data models
• Investment and dividends under irreversibility and financial constraints
• Nonstationary panels, panel cointegration, and dynamic panels
• On the Nature of Capital Adjustment Costs
• Tobin's Marginal q and Average q: A Neoclassical Interpretation

Cited in

(4)

• The role of non-convex costs in firms' investment and financial dynamics
• A Panel Analysis of Liquidity Constraints and Firm Investment
• Investment decisions with financial constraints. Evidence from Spanish firms
• Financially constrained capital investments: The effects of disembodied and embodied technological progress

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