search query: @author Hubbard, R. / total: 7
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| Author: | Hubbard, R. Kashyap, A. Whited, T. |
| Title: | Internal finance and firm investment |
| Journal: | Journal of Money, Credit and Banking
1995 : AUG, VOL. 27:3, p. 683-701 |
| Index terms: | FINANCE COMPANIES INVESTMENT |
| Language: | eng |
| Abstract: | Recent research on determinants of firm-level fixed investment has stressed the importance of proxies for firms' internal finance as explanatory variables, holding constant measures of firm opportunities or the cost of capital. This paper has two purposes. First, the authors use an estimation strategy based on the Euler equation representation of firms' investment decisions. The second purpose is to explore the reasons why the standard Euler equation for fixed investment may not fit well for all firms. |
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