Matches in SemOpenAlex for { <https://semopenalex.org/work/W3159041046> ?p ?o ?g. }
Showing items 1 to 67 of
67
with 100 items per page.
- W3159041046 abstract "We study the drivers of investment in Italy during the global financial crisis and the sovereign debt crisis. We focus on the effect of leverage while controlling for the role of other drivers: expected demand, profitability, access to credit and uncertainty. As firm-level leverage may be correlated with its unobservable characteristics, we employ instrumental variables estimation, using the median leverage of firms in the same industry and size decile as an instrument. We find that an increase in leverage equal to the interquartile range (about 30 percentage points) is associated with a lower investment rate of 1.9 and 1.4 percentage points (36 and 41 per cent of its mean) during each crisis. We also find that expected demand growth has a strong positive association with investments, whereas this relation holds for profitability only during the sovereign debt crisis. In contrast, credit rationing and uncertainty have a negative, although more limited, effect. Overall, ex-ante high firm indebtedness has been an important driver of the lower investment rate over the last decade." @default.
- W3159041046 created "2021-05-10" @default.
- W3159041046 creator A5052038278 @default.
- W3159041046 creator A5088214439 @default.
- W3159041046 date "2018-01-01" @default.
- W3159041046 modified "2023-09-27" @default.
- W3159041046 title "Firmss Investments During Two Crises" @default.
- W3159041046 doi "https://doi.org/10.2139/ssrn.3176963" @default.
- W3159041046 hasPublicationYear "2018" @default.
- W3159041046 type Work @default.
- W3159041046 sameAs 3159041046 @default.
- W3159041046 citedByCount "2" @default.
- W3159041046 countsByYear W31590410462018 @default.
- W3159041046 crossrefType "journal-article" @default.
- W3159041046 hasAuthorship W3159041046A5052038278 @default.
- W3159041046 hasAuthorship W3159041046A5088214439 @default.
- W3159041046 hasConcept C10138342 @default.
- W3159041046 hasConcept C119857082 @default.
- W3159041046 hasConcept C120527767 @default.
- W3159041046 hasConcept C129361004 @default.
- W3159041046 hasConcept C139719470 @default.
- W3159041046 hasConcept C144133560 @default.
- W3159041046 hasConcept C153083717 @default.
- W3159041046 hasConcept C162324750 @default.
- W3159041046 hasConcept C2778300220 @default.
- W3159041046 hasConcept C41008148 @default.
- W3159041046 hasConcept C556758197 @default.
- W3159041046 hasConcept C73283319 @default.
- W3159041046 hasConceptScore W3159041046C10138342 @default.
- W3159041046 hasConceptScore W3159041046C119857082 @default.
- W3159041046 hasConceptScore W3159041046C120527767 @default.
- W3159041046 hasConceptScore W3159041046C129361004 @default.
- W3159041046 hasConceptScore W3159041046C139719470 @default.
- W3159041046 hasConceptScore W3159041046C144133560 @default.
- W3159041046 hasConceptScore W3159041046C153083717 @default.
- W3159041046 hasConceptScore W3159041046C162324750 @default.
- W3159041046 hasConceptScore W3159041046C2778300220 @default.
- W3159041046 hasConceptScore W3159041046C41008148 @default.
- W3159041046 hasConceptScore W3159041046C556758197 @default.
- W3159041046 hasConceptScore W3159041046C73283319 @default.
- W3159041046 hasLocation W31590410461 @default.
- W3159041046 hasOpenAccess W3159041046 @default.
- W3159041046 hasPrimaryLocation W31590410461 @default.
- W3159041046 hasRelatedWork W1547360699 @default.
- W3159041046 hasRelatedWork W1936564001 @default.
- W3159041046 hasRelatedWork W2089758953 @default.
- W3159041046 hasRelatedWork W2103237323 @default.
- W3159041046 hasRelatedWork W2352293977 @default.
- W3159041046 hasRelatedWork W2581428995 @default.
- W3159041046 hasRelatedWork W2732612346 @default.
- W3159041046 hasRelatedWork W2767830851 @default.
- W3159041046 hasRelatedWork W2767921535 @default.
- W3159041046 hasRelatedWork W2889775955 @default.
- W3159041046 hasRelatedWork W2897489194 @default.
- W3159041046 hasRelatedWork W3037863175 @default.
- W3159041046 hasRelatedWork W3090380094 @default.
- W3159041046 hasRelatedWork W3121602443 @default.
- W3159041046 hasRelatedWork W3122986049 @default.
- W3159041046 hasRelatedWork W3124133249 @default.
- W3159041046 hasRelatedWork W3124135967 @default.
- W3159041046 hasRelatedWork W3125176039 @default.
- W3159041046 hasRelatedWork W3125571606 @default.
- W3159041046 hasRelatedWork W3155185657 @default.
- W3159041046 isParatext "false" @default.
- W3159041046 isRetracted "false" @default.
- W3159041046 magId "3159041046" @default.
- W3159041046 workType "article" @default.