Corporate Investment : Propensities and Constraints

  title={Corporate Investment : Propensities and Constraints},
  author={Joseph P. Ogdena and Shanhong Wub},
  • Joseph P. Ogdena, Shanhong Wub
  • Published 2007
This paper is primarily motivated by the dramatic shift over time in the investment propensities of U.S. firms away from capital expenditures and toward R&D. In analyses of corporate investment determinants, this shift prompts the need to account for individual firm's ex ante propensities to make alternative types of investment. We develop and test two… CONTINUE READING