Naslov
Investments and Capital market Imperfections, Identification Issues: A Survey

Autori
Ćorić, Bruno

Izvornik
Financijska teorija i praksa (1332-3970) 34 (2010), 4; 407-434

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Investment; asymmetric information; capital markets imperfections

Sažetak
If financial markets are perfect, the choice of the sources of finance does not influence investment decisions. However, financial markets are considered to be far from perfect. This review concentrates on the role of information asymmetry in determining real investment decisions. Despite the theoretical plausibility of a relationship between capital markets imperfections and real investments, the empirical literature has found it difficult to identify this channel. Overall, more research is needed to identify method which will not be subject to critiques related to the use of cash-flow in the investment equation and will be based on the data that are relatively available across countries and over time.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA