منابع مشابه
Sources of Sectoral Fluctuations in Business Fixed Investment
A model of macroeconomic complementarity is used to assess causes of comovement in investment spending across nine sectors of the U.S. economy. It is hypothesized that the irreversibility and uncertainty of investment spending imply a greater role for investment linkages and aggregate factors in investment fluctuations compared with estimates for employment and output. For the average sector, p...
متن کاملUnderstanding Changes in Aggregate Business Fixed Investment
On average, higher levels of such investments raise production by increasing the productivity of the labor force. While the significance of shortterm changes in business investment is less widely recognized, the importance of such changes for the business cycle has been known to economists since the beginning of the last century. For example, many believe that the current record expansion has b...
متن کاملFixed investment/fundamental sensitivities under financial constraints
While most models with financial market imperfections predict investment by financially constrained firms to be more sensitive to financial variables, contracting models argue that investment by such firms should be more sensitive to fundamental determinants of investment because fundamentals capture both investment opportunities and changes in the financial position. By first grouping U.S. man...
متن کاملAttitude towards risk, uncertainty, and fixed investment
We explore the relevance of the risk attitude of managers to the investment-uncertainty relation. Higher moments of the distribution of net profits are used to measure the risk premium of the firm, from which we derive a proxy for the risk aversion of managers. Using an unbalanced panel of Dutch listed firms, we find that in general a low degree of risk aversion coincides with a positive impact...
متن کاملInvestment Strategies, Fund Performance and Portfolio Characteristics
This paper provides extensive evidence on portfolio characteristics of mutual funds and studies the relation between fund performance and the fund manager's investment strategy. The results show that neither momentum characteristics nor the valuation of stocks can explain differences in fund performance. However, the paper finds a negative firm-size effect that partly explains previous findings...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2841184