Déterminants financiers de l'investissement en capital fixele cas Espagnol

  1. Valentín Azofra Palenzuela
  2. Félix Javier López Iturriaga
Revista:
Revue d'economie industrielle

ISSN: 0154-3229

Año de publicación: 1998

Número: 86

Páginas: 25-48

Tipo: Artículo

DOI: 10.3406/REI.1998.1730 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Revue d'economie industrielle

Objetivos de desarrollo sostenible

Resumen

The enrichment of the investment models with the contributions of the economics of information opens the possibility of an opportunist behaviour among agents. Its application to the field of finance implies the existence of financial constraints, tightening especially those firms more involved in asymmetric information. The constraints arise in the absence of substitution between internal and external resources and in the presence of credit rationing. This paper confirms the different validity of the Euler equation for the Spanish firms with or without information problems. Although this equation works for the investment function of the firms with more informative capacity, it doesn't for those without.