Научный семинар МИЭФ, Stefano Sacchetto (IESE Business School)

В четверг, 09 марта в 16.40 в ауд. 3211 (ул. Шаболовка, 26) прошел научный семинар МИЭФ. 
Докладчик: Stefano Sacchetto (IESE Business School)
Тема доклада: "Heterogeneity in Corporate Investment and Financing Policies" совместно с Theodosios Dimopoulos

Тезисы доклада: We empirically examine the degree to which persistent differences in corporate investment and financing policies across firms are driven by technological heterogeneity. We estimate a neoclassical model of investment for a sample of US manufacturing companies, allowing the parameters of the profit function and the capital adjustment costs to differ across firms. We find that firm-specific technological parameters explain a considerable fraction of the cross-sectional dispersion in investment{cash-ow sensitivities, and in the unobserved fixed heterogeneity in leverage, cash holdings and acquisition expenditures.

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