Complementary assets and investment decisions
Pastor-Agustín, G. (Universidad de Zaragoza) ; Ramírez-Alesón, M. (Universidad de Zaragoza) ; Espitia-Escuer, M. (Universidad de Zaragoza)
Resumen: This paper analyzes which simultaneous crossover effects among tangible, intangible, and current assets affect investment and disinvestment decisions on tangible and intangible assets. Controlling for nonconvexity and irreversibility effects, we analyze investment and disinvestment over 1,044 firm-year observations of Spanish firms. The results show interrelations among tangible and intangible assets affecting their investment and disinvestment decisions, a different effect of current assets on investment and disinvestment, and the existence of lumping investment. The main contribution is the control for misspecification biases since all the effects are considered together.
Idioma: Inglés
DOI: 10.2753/REE1540-496X4706S502
Año: 2011
Publicado en: EMERGING MARKETS FINANCE AND TRADE 47, 5 (2011), 25-39
ISSN: 1540-496X
Factor impacto JCR: 0.953 (2011)
Categ. JCR: ECONOMICS rank: 132 / 320 = 0.412 (2011) - Q2 - T2
Categ. JCR: INTERNATIONAL RELATIONS rank: 25 / 80 = 0.312 (2011) - Q2 - T1
Categ. JCR: BUSINESS rank: 72 / 112 = 0.643 (2011) - Q3 - T2
Financiación: info:eu-repo/grantAgreement/ES/DGA/S42-17R-CREVALOR
Financiación: info:eu-repo/grantAgreement/ES/MEC/ECO2009-09623
Tipo y forma: Article (PostPrint)
Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)
You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. You may not use the material for commercial purposes. If you remix, transform, or build upon the material, you may not distribute the modified material.
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Idioma: Inglés
DOI: 10.2753/REE1540-496X4706S502
Año: 2011
Publicado en: EMERGING MARKETS FINANCE AND TRADE 47, 5 (2011), 25-39
ISSN: 1540-496X
Factor impacto JCR: 0.953 (2011)
Categ. JCR: ECONOMICS rank: 132 / 320 = 0.412 (2011) - Q2 - T2
Categ. JCR: INTERNATIONAL RELATIONS rank: 25 / 80 = 0.312 (2011) - Q2 - T1
Categ. JCR: BUSINESS rank: 72 / 112 = 0.643 (2011) - Q3 - T2
Financiación: info:eu-repo/grantAgreement/ES/DGA/S42-17R-CREVALOR
Financiación: info:eu-repo/grantAgreement/ES/MEC/ECO2009-09623
Tipo y forma: Article (PostPrint)
Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)
You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. You may not use the material for commercial purposes. If you remix, transform, or build upon the material, you may not distribute the modified material. Exportado de SIDERAL (2025-10-17-14:10:00)
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Record created 2025-08-29, last modified 2025-10-17