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- W1515142773 abstract "The usual assumption when considering investment grants is that grant payments are automatic when investments are undertaken. However, evidence from case studies shows that there can exist some time lag until funds are received by granted firms. In this paper the effects of delays in grant payments on the optimal investment policy of the firm are analyzed. It is shown how these delays lead not only to a higher financing cost but to an effective reduction in the investment grant rate, and in some cases, how benefits from investment grants could be canceled due to interactions with tax effects." @default.
- W1515142773 created "2016-06-24" @default.
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- W1515142773 date "2006-01-01" @default.
- W1515142773 modified "2023-09-27" @default.
- W1515142773 title "User cost of capital with delayed investment grants" @default.
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