haku: @author Louri, H. / yhteensä: 5
viite: 4 / 5
| Tekijä: | Hay, D. Louri, H. |
| Otsikko: | Investment in inventories: an empirical microeconomic model of firm behavior |
| Lehti: | Oxford Economic Papers
1994 : JAN, VOL. 46:1, p. 157-170 |
| Asiasana: | INVESTMENT MODELS UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | Inventory investment is one part of a decision nexus addressed by the firm including physical investment, finance, and trade credit. The analysis presented in the paper makes this explicit, drawing on portfolio theory to model balance sheet items. The model is tested for samples of UK-quoted companies for the period 1960-85, and is shown to perform better than standard stock-adjustment equations. The equations indicate different behavioural responses between a sample of large growth-oriented companies and a sample of smaller stable companies. |
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