abstract o ur basic aim in this paper concerns the question that if overusing the information technology by service and manufacturing firms can increase the total productivity resulting from this kind of technology regarding the iran's economic structure and conditions. for this purpose, we primarily evaluate the productivity resulting from the rate of firms' use of it for the differe...

Abstract O ur basic aim in this paper concerns the question that if overusing the Information Technology by service and manufacturing firms can increase the total productivity resulting from this kind of technology regarding the Iran's economic structure and conditions. For this purpose, we primarily evaluate the productivity resulting from the rate of firms' use of IT for...

Using the quarterly Compustat files, we present empirical findings that business capital investment is significantly higher in the fourth quarter than in other quarters. Even after controlling for business capital investment determinants, we find that the fourth quarter capital investment is significantly larger but less sensitive to investment opportunities than other quarters’ capital investm...

In this paper, I examine the influence of the investment bank’s reputation on the price of underwriting services of Chinese firm. Based on a sample of offers from 2004-2015, the results show that prestigious investment banks charge higher fees. Furthermore, in comparison to big firms, prestigious investment banks charge more underwriting fees for small firms. In comparison to state-owned firms,...

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...

When firms can protect their innovations by secrecy or lead-time, the additional effect of patent protection is not obvious. This paper shows that when firms compete for a single innovation, patent protection still increases R&D investment but decreases social welfare due to over-investment. However, when firms compete for multiple complementary patents (called a patent portfolio), patent prote...

This paper studies the effect of corporate taxes on investment. Using firm-level data on German corporations, we investigate the 2008 tax reform that cut corporate taxes by 10 percentage points. We expect heterogeneous investment responses across firms, since firms with a foreign parent have more cross-country profit shifting opportunities than domestically owned firms. Using a matching differe...

Capital expenditures by the top 100 firms make up more than 60% of aggregate investment by publicly traded firms and account for most of the variation in aggregate net fixed private nonresidential investment. Surprisingly, these firms have the highest investment-cash flow sensitivity in the economy, despite being the least financially constrained. Further, contrary to the trend among smaller fi...