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| Tekijä: | Lensink, R. Sterken, E. |
| Otsikko: | Capital market imperfections, uncertainty and corporate investment in the Czech Republic |
| Lehti: | Economics of Planning
2000 : VOL. 33:1-2, p. 53-70 |
| Asiasana: | ECONOMIC PLANNING CZECH REPUBLIC CAPITAL MARKETS |
| Kieli: | eng |
| Tiivistelmä: | In this study the authors examine private investment behavior of firms in the Czech Republic. A special feature of the study is that the investment equations include variables which may give some more insights into the role of capital market imperfections as well as the effect of uncertainty. The results find support for the accelerator model. The authors find evidence for cash-flow effects on Czech corporate investment. It is striking that indeed smaller longer privatized firms face relatively less cash flow restrictions. |
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