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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17961Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Tomat, Gian Maria | - |
| dc.date | 2007 | - |
| dc.date.accessioned | 2013-10-16T06:57:35Z | - |
| dc.date.available | 2013-10-16T06:57:35Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/17961 | - |
| dc.identifier | ppn:558404030 | - |
| dc.identifier | RePEc:zbw:ifwedp:6165 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/17961 | - |
| dc.description | The paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q, however the investment function is characterized by an upper bound that depends on the firm´s borrowing capabilities. The firm´s marginal q is the sum of the expected value of the marginal profitability of the physical capital stock and of a positive external finance premium. In the presence of financial market imperfections the firm forms expectations about future financial conditions and these expectations raise the firm´s current marginal q. Similarly, the shadow price of firm´s debt is the sum of the interest cost of debt repayment and of a provision for external finance that depends on the firm´s expectations over future financial conditions. | - |
| dc.language | eng | - |
| dc.publisher | Kiel Institute for the World Economy (IfW) Kiel | - |
| dc.relation | Economics Discussion Papers / Institut für Weltwirtschaft 2007-38 | - |
| dc.rights | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | - |
| dc.subject | E22 | - |
| dc.subject | D92 | - |
| dc.subject | ddc:330 | - |
| dc.subject | firm´s investment | - |
| dc.subject | financial constraints | - |
| dc.subject | Tobin´s marginal q | - |
| dc.subject | uncertainty | - |
| dc.title | Modeling the Effects of Financial Constraints on Firm´s Investment | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
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