Haku
Viitteet 1-3 / 3
The net worth trap: investment and output dynamics in the presence of financing constraints
(16.11.2014)
Bank of Finland Research Discussion Papers 26/2014
Bank of Finland Research Discussion Papers 26/2014
We study the impact of financing constraints on investment and output dynamics, in a continuous time setting with output a linear function of capital. Decline of net worth reduces investment and, if firms can rent capital ...
Biased beliefs, costly external finance, and firm behavior : A Unified theory
(09.09.2019)
Bank of Finland Research Discussion Papers 18/2019
Bank of Finland Research Discussion Papers 18/2019
Overconfidence and overextrapolation are two behavioral biases that are pervasive in human thinking. A long line of research documents that such biases influence business decisions by distorting managers' expected productivity. ...
Secrecy, information shocks, and corporate investment : Evidence from European Union countries
(08.08.2017)
Bank of Finland Research Discussion Papers 19/2017
Bank of Finland Research Discussion Papers 19/2017
This study examines how national culture affects corporate investment. We argue that national culture affects corporate investment efficiency through the level of secrecy that national culture exhibits. Using a sample of ...