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| Tekijä: | Bris, A. Koskinen, Y. Nilsson, M. |
| Otsikko: | The real effects of the euro: evidence from corporate investments |
| Lehti: | Review of finance
2006 : VOL. 10:1, p. 1-37 |
| Asiasana: | corporate finance euro investment |
| Kieli: | eng |
| Tiivistelmä: | This article studies how the adoption of the euro as the common currency in Europe has affected companies' investment rates. Using corporate data from the eleven countries that adopted the euro in January 1999, as well as from a control sample of five other European countries, the study shows that 1) the euro has increased investments for companies from countries that previously had weak currencies, 2) the euro has had a positive impact on financially constrained companies' investments, and 3) the euro has had a positive impact on financially unconstrained companies from countries that previously had strong currencies. |
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