Publicação
Financing patterns and corporate investment relationship : a brief overview
| Resumo: | Investment is an important economic variable and, therefore, it is important to have an understanding of the factors that determine its evolution over time. One aspect that has been highlighted in recent research is that corporate investment behavior is influenced by the financial structure of firms. In fact, if the hypothesis of imperfect capital markets holds, there is no perfect substitutability between the various sources of funds, which may affect the investment expenses of firms and lead to a situation of underinvestment. In this paper, a brief overview of different explanations for the relationship between financing patterns and investment behavior of firms is presented. |
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| Autores principais: | Cunha, Jorge |
| Outros Autores: | Paisana, António |
| Assunto: | Corporate investment Financing patterns Financing constraints Agency costs |
| Ano: | 2012 |
| País: | Portugal |
| Tipo de documento: | comunicação em conferência |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade do Minho |
| Idioma: | inglês |
| Origem: | RepositóriUM - Universidade do Minho |
| Resumo: | Investment is an important economic variable and, therefore, it is important to have an understanding of the factors that determine its evolution over time. One aspect that has been highlighted in recent research is that corporate investment behavior is influenced by the financial structure of firms. In fact, if the hypothesis of imperfect capital markets holds, there is no perfect substitutability between the various sources of funds, which may affect the investment expenses of firms and lead to a situation of underinvestment. In this paper, a brief overview of different explanations for the relationship between financing patterns and investment behavior of firms is presented. |
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