Does Firm Life Cycle Impact Corporate Investment Efficiency?

The Impact of Corporate income Tax and Firm Size on Fixed Investment

This paper is an attempt to analyze the impact of income taxes and market capitalization on fixed investment (investment in tangible assets) by manufacturing companies listed on KSE. This paper basically examines that how corporate income taxes affect fixed investment by reducing cash flow available for a firm to invest and how the firm size in the lights of market capitalization affects fixed ...

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

We examine the effect of financial dependence on the acquisition and investment of singlesegment and conglomerate firms at different stages of the industry life cycle. Conglomerates and single-segment firms differ in acquisition activity more than in the level of capital expenditure across all stages. Financial dependence, a deficit in a segment’s internal financing, decreases the likelihood of...

Corporate Governance and Firm Efficiency:

This paper applies a two-stage, double bootstrapping data envelope analysis (DEA) approach to investigate whether and to what extent various distinctive corporate governance practices affect productive efficiency in a sample of 461 publicly listed manufacturing firms in China between 1999 and 2002. We find that firm efficiency is negatively related to state ownership while positively related to...

Does Entry Size Matter? The Impact of the Life Cycle and Technology on Firm Survival

Corporate Investment Over the Business Cycle

While firm-level capital growth rates exhibit positive spikes, and rise as fast as they fall, the average capital growth rate across firms exhibits negative spikes, and declines faster than it recovers. We develop a dynamic model of investment that reconciles these empirical patterns. The model features costly reversibility, cyclical macroeconomic shocks, and uncertainty about the state of the ...