This paper provides a dynamic optimization model of durable good inventories to study the interactions between investment demand and production of capital goods. There are three major findings: First, capital suppliers’ inventory behavior makes investment demand more volatile in equilibrium; Second, equilibrium price of capital is characterized by downward stickiness; Third, the responses of th...

intellectual capital is set of knowledge-based assets that belongs to an organization and will add value to key organizational stakeholders and this leads to a better competitive situation. the objective of this research is to investigate the relationship between intellectual capital and companies' performance in iran during 1382-1387 using lisrel software. earning per share, return on equ...

We develop a tractable two-country overlapping-generations model and show that cross-country differences in financial development can explain three recent empirical patterns of international capital flows: Financial capital flows from relatively poor to relatively rich countries, while foreign direct investment flows in the opposite direction; net capital flows go from poor to rich countries; d...

We develop a tractable two-country overlapping-generations model and show that cross-country differences in financial development can explain three recent empirical patterns of international capital flows: Financial capital flows from relatively poor to relatively rich countries, while foreign direct investment flows in the opposite direction; net capital flows go from poor to rich countries; d...

In capital accumulation under uncertainty, a decision-maker must determine how much capital to invest in riskless and risky investment opportunities over time. The investment strategy yields a stream of capital, with investment decisions made so that the dynamic distribution of wealth has desirable properties. The distribution of accumulated capital to a fixed point in time and the distribution...

This paper investigates the effect of increased diversification on the internal capital market. Previous literature examines the relationship of lowering diversification level and internal capital market. They find that internal capital market becomes more efficient as firms spin off poorly performing segments. This paper examines how the efficiency of the internal capital market changes after ...

Recent research has indicated that investment in certain capital types, such as computers, has fostered accelerated productivity growth and enabled a fundamental reorganization of the workplace. However, remarkably little is known about the composition of investment at the micro level. This short paper takes an important …rst step in …lling this knowledge gap by looking at the newly available m...

We study investments in impact funds, which we define as private equity funds with a stated mandate to fund companies that generate both financial returns and positive externalities. Using data on the capital commitments of 6,000 limited partners (LPs) into 10,000 funds, we examine the effect of impact on LP’s fund choice within a general fund choice model. We focus on how fund choice varies by...