Financial Factors and Investment in Belgium, France, Germany, and the United Kingdom: A Comparison Using Company Panel Data
| Autor: | MULKAY, Benoit, Bond, Stephen, Elston, Julie Ann, Mairesse, Jacques, Mulkay, Benoît |
|---|---|
| Přispěvatelé: | Montpellier Recherche en Economie (MRE), Université de Montpellier (UM), QLVL, QLVL, Linguistics Department (KU Leuven) (QLVL), QLVL, Linguistics Department (KU Leuven)-QLVL, Linguistics Department (KU Leuven), Centre de Recherche en Économie et Statistique (CREST), Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] (ENSAI)-École polytechnique (X)-École Nationale de la Statistique et de l'Administration Économique (ENSAE Paris)-Centre National de la Recherche Scientifique (CNRS), Montpellier Recherche en Economie ( MRE ), Université de Montpellier ( UM ), QLVL, Linguistics Department (KU Leuven) ( QLVL ), Centre de Recherche en Économie et Statistique ( CREST ), Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] ( ENSAI ) -École polytechnique ( X ) -École Nationale de la Statistique et de l'Administration Économique ( ENSAE ParisTech ) |
| Jazyk: | angličtina |
| Rok vydání: | 2003 |
| Předmět: |
Finance
Economics and Econometrics 050208 finance business.industry 05 social sciences [SHS.ECO]Humanities and Social Sciences/Economics and Finance Investment (macroeconomics) Kingdom 8. Economic growth 0502 economics and business Economics [ SHS.ECO ] Humanities and Social Sciences/Economies and finances Manufacturing firms Cash flow 050207 economics business ComputingMilieux_MISCELLANEOUS Social Sciences (miscellaneous) Panel data |
| Zdroj: | Review of Economics and Statistics Review of Economics and Statistics, Massachusetts Institute of Technology Press (MIT Press), 2003, 85 (1), pp.153-165. ⟨10.1162/003465303762687776⟩ Review of Economics and Statistics, Massachusetts Institute of Technology Press (MIT Press), 2003, 85 (1), pp.153-165. 〈10.1162/003465303762687776〉 |
| ISSN: | 1978-1989 0034-6535 1530-9142 |
| DOI: | 10.1162/003465303762687776⟩ |
| Popis: | We construct company panel data sets for manufacturing firms in Belgium, France, Germany, and the United Kingdom, covering the period 1978-1989. These data sets are used to estimate empirical investment equations, and to investigate the role played by financial factors in each country. A robust finding is that cash flow and profits terms appear to be both statistically and quantitatively more significant in the United Kingdom than in the three continental European countries. This is consistent with the suggestion that financial constraints on investment may be relatively severe in the more market-oriented U.K. financial system. © 2003 President and Fellows of Harvard College and the Massachusetts Institute of Technology. |
| Databáze: | OpenAIRE |
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