Determinants of corporate investment decisions on an imperfect capital market and financial constraints

Determinants of corporate investment decisions on an imperfect capital market and financial constraints

This paper explores corporate investment strategy under capital market imperfection and financial constraints. Literature reviews of the corporate investment and capital market related theories are conducted aiming at investigating the methodologies used in benchmarking constrained and unconstrained...

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Bibliographic Details
Main Authors: Chaicisuttangkun, S., Ornlatcha Sivarak, Sarayut Nathaphan
Other Authors: Mahidol University. Mahidol University International College. Business Administration Division
Format: Article
Language:English
Published: 2015
Subjects:
Corporate investment
Financial constraints
Capital market imperfectionm
Asymmetric information
Tobin Q
Online Access:https://repository.li.mahidol.ac.th/handle/123456789/10951
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Institution: Mahidol University
Language: English
Description
Summary:This paper explores corporate investment strategy under capital market imperfection and financial constraints. Literature reviews of the corporate investment and capital market related theories are conducted aiming at investigating the methodologies used in benchmarking constrained and unconstrained firms and the determinants of investment sensitivity including variety of financial variables between the two groups. Asymmetric information and availability of internal funds are key determinants in corporate investment decisions.

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