The current market economy implies that the search for effective sources of financing fixed assets reproduction is one key tasks in managing capital economic entity. In changing external environment, modernized equipment enterprises provides an opportunity to carry out innovative activities, as well implement investment projects. aim research was outline a modern approach based on identificatio...

This study investigates whether personal taxes are related to asset valuations. The effective tax rate of investment income fluctuated considerably since federal income taxes were introduced. The main result of the paper demonstrates that there is an economically and statistically significant relationship between asset valuations and personal tax rates. Stock valuations tend to be higher when t...

This paper studies the effect of the three most commonly used demand functions, i.e. additive, multiplicative and iso-elastic demand, on the investment decisions of two competitive firms. We show that the relative investment decision of the two firms can be very sensitive to the choice of a specific demand function. We find that the use of the multiplicative demand function results in a market ...

This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for British firms, cash flow is informative about investment, although not about the level of R&D spending co...

Animals can maximize benefits but it is not known if they adjust their investment according to expected pay-offs. We investigated whether monkeys can use different investment strategies in an exchange task. We tested eight capuchin monkeys (Cebus apella) and thirteen macaques (Macaca fascicularis, Macaca tonkeana) in an experiment where they could adapt their investment to the food amounts prop...

The theoretical literature on FDI and knowledge spillovers has predominantly focused on the firms ’ choice between greenfield investment and exports. This is somewhat surprising since almost 80% of all FDI relates to M&As. The few studies that investigate the choice between greenfield investment and M&A with knowledge spillovers almost exclusively focus on North-South issues where knowledge onl...

In stochastic finance, one traditionally considers the return as a competitive measure of an asset, i.e., the profit generated by that asset after some fixed time span ∆t, say one week or one year. This measures how well (or how bad) the asset performs over that given period of time. It has been established that the distribution of returns exhibits “fat tails” indicating that large returns occu...

Africa is estimated to possess somewhere around 7 percent of the world’s proven crude oil reserves, according to the Energy Information Agency. It may have up to 24 billion barrels in total proven and unproven reserves. West Africa is generally viewed by the oil industry as one of the world’s leading deepwater offshore oil zones, with 633 fixed platforms, 13 floaters and 20 storage and offloadi...

With the rapid development of economy, China, as a country which attracts lots of multinational companies investing in and reaping their benefits, now plays an increasing important role as a source of investment all around the world. And more and more Chinese enterprises try their best to expend overseas market. In this paper, based on the perspective of investment motives, I use fixed effect m...