In this paper, I explain two "puzzles" that have been observed in ΓΏrm level data. First, ΓΏrms that display a high sensitivity of investment to cash ow (commonly believed to be an indicator of liquidity constraints) usually have large unutilized lines of credit which, presumably, could be used to ove
Investment Adjustment Costs: An Empirical Assessment
β Scribed by CHARLOTTA GROTH; HASHMAT KHAN
- Book ID
- 109147103
- Publisher
- John Wiley and Sons
- Year
- 2010
- Tongue
- English
- Weight
- 165 KB
- Volume
- 42
- Category
- Article
- ISSN
- 0022-2879
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