Local governments are playing an increasingly prominent role in the global investment area by holding large publicly-held pools of assets. The incentives for bureaucrats’ engagement financial and their expertise presumably distinctive from professional investors private markets. Therefore, it’s intriguing to study these government-held funds’ patterns performance. To investigate problems, this ...

This paper experimentally investigates investment behavior. We find that global risk – i.e. risk independent of an agent’s investment decision (like political risk) – substantially decreases investment. Also effort to obtain the capital used for investment decreases investment substantially. These results are neither in line with expected utility theory nor with psychologically orientated theor...

this paper tries to express the investment behavior of irans economic sectors during 1959-2001 by means of proposing an econometric model. the results of the model are offered in two options: present status continuation and desirable status. the first option reveals that the continuation of the present trends in iran will lead to the economic growth of 3.9 percent and total investment growth of...

In this paper the impact of a policy change on the investment behavior of the firm is studied in an asymmetric information setting. The policy change occurs when a stochastic process describing the state of the economic environment reaches a certain trigger. Asymmetric information is modeled here by imposing that the firm does not know this trigger but only its probability distribution. Consequ...

We review the changes in modelling strategy and econometric methodology when estimating a firm-level investment equation on panel data during the past twenty years, in order to assess which of these changes result from new estimation methods and changes in the practice of panel data econometrics, and which are ”real” and due to the evolution of the economy. Thus our paper consists of a series o...