Abstract
This chapter contains a review of the literature which forms the background for the empirical study presented in Chapter 4. I concentrate on the two major areas of recent research on firms’ investment decisions identified in the introduction: Recent developments in formulating and estimating models of firms’ “real” investment decisions (Section 2.1), and financial constraints that may affect firms’ investment (Section 2.2). As discussed in the introduction, the first area has recently experienced major theoretical advances which have not yet entered empirical practice, while in the second area, there has been much empirical research in the last decade, with many of the theoretical advances in the first literature having been largely ignored so far.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1998 Physica-Verlag Heidelberg
About this chapter
Cite this chapter
Winter, J. (1998). Theory and empirics of investment: a selective review of the literature. In: Investment and Exit Decisions at the Plant Level. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-99803-4_2
Download citation
DOI: https://doi.org/10.1007/978-3-642-99803-4_2
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-1154-4
Online ISBN: 978-3-642-99803-4
eBook Packages: Springer Book Archive