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Campo DC | Valor |
---|---|
dc.contributor.author | Martínez Carrascal, Carmen |
dc.contributor.author | Ferrando, Annalisa |
dc.coverage.spatial | Zona euro |
dc.date.accessioned | 2019-08-10T17:52:53Z |
dc.date.available | 2019-08-10T17:52:53Z |
dc.date.issued | 2008-09-29 |
dc.identifier.issn | ISSN: 0213-2710 (en papel) |
dc.identifier.issn | ISSN: 1579-8666 (en línea) |
dc.identifier.uri | https://repositorio.bde.es/handle/123456789/6951 |
dc.description | Incluye bibliografía |
dc.description.abstract | This paper analyses the impact that firms' financial position has on investment decisions using panel data from a large sample of non-financial corporations (around 120,000 firms) in six euro area countries (Belgium, Germany, France, Italy, the Netherlands and Spain). The results indicate that financial position is important to explain capital expenditures, as financial pressure appears relevant in explaining investment dynamics when it is proxied by cash flow, indebtedness and debt burden. The results also show differences in the sensitivity of investment rates to changes in financial pressure across countries, which appears to be especially large in the Netherlands and Italy and relatively small in Germany |
dc.format.extent | 40 p. : gráf., tab. |
dc.language.iso | eng |
dc.publisher | Banco de España |
dc.relation.ispartof | Documentos de Trabajo / Banco de España, 0820 |
dc.rights | Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0) |
dc.rights | In Copyright - Non Commercial Use Permitted |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES |
dc.rights.uri | http://rightsstatements.org/vocab/InC-NC/1.0/ |
dc.subject | Financial pressure |
dc.subject | Fixed investment |
dc.subject | Balance sheet channel |
dc.subject | Panel data |
dc.title | The impact of financial position on investment : an analysis for non-financial corporations in the euro-area |
dc.type | Documento de trabajo |
dc.identifier.bdebib | 000213160 |
dc.identifier.bdepub | DTRA-200820-eng |
dc.subject.bde | Modelos de datos de panel |
dc.subject.bde | Política de inversiones en las empresas |
dc.subject.bde | Financiación de la empresa |
dc.publisher.bde | Madrid : Banco de España, 2008 |
dc.subject.jel | C33 |
dc.subject.jel | E22 |
dc.subject.jel | G32 |
dc.subject.jel | J23 |