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Investment under liquidity constraints and uncertainty : investigating the effects of irreversibility

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University of Peiraeus   

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Spoudai - Journal of Economics and Business   

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Investment under liquidity constraints and uncertainty : investigating the effects of irreversibility (EL)
Investment under liquidity constraints and uncertainty : investigating the effects of irreversibility (EN)
Καλλανδράνης, Χρήστος
Δράκος, Κωνσταντίνος
Γούλας, Ελευθέριος
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
2006-10-01
Irreversibility affects investment spending via two channels, a) financial constraints and b) uncertainty. According to our results, the impact of cash flow is accentuated for sectors facing higher irreversibility, implying that their investment spending is more sensitive to internal funds. In addition, the investment-uncertainty derivative is of larger magnitude for the group of sectors facing higher irreversibility. JEL Classifications: C23; E22; G31. Keywords: Capital Market Imperfections; Investment; Irreversibility; Uncertainty. (EN)
Κεφαλαιαγορά (EL)
Επένδυση (EL)
Capital market (EN)
Investment (EN)
Σπουδαί - Journal of Economics and Business
English
University of Piraeus (EN)
1105-8919
2241-424X
SPOUDAI - Journal of Economics and Business; Vol 56, No 4 (2006); 7-16 (EN)
Copyright (c) 2006 SPOUDAI - Journal of Economics and Business (EN)
University of Peiraeus
Spoudai - Journal of Economics and Business
Scientific Papers



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