• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Journal of Economics and Finance >Lumpy investments and capital adjustment patterns in the food manufacturing industry
【24h】

Lumpy investments and capital adjustment patterns in the food manufacturing industry

机译：食品制造行业的笨拙投资和资本调整模式

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This paper investigates investment patterns and the types of capital adjustment cost in the U.S. food manufacturing plants. The study first documents the lumpy nature of investment rates and shows that few investment incidents at plant-level contribute to a large portion of aggregate investment, indicating the importance of large investments in the food manufacturing industry. Further, the paper presents econometric evidence for the nature of capital adjustment costs by estimating an investment hazard model which determines both the probability of having an investment spike and the factors affecting lumpy investments. The results support the presence of both convex and non-convex components of capital adjustment costs. While the importance of lumpy investments at the plant-level support for a non-convex component of adjustment cost, the empirical estimation of hazard function shows downward-sloping shape (i.e., negative duration dependence) which demonstrates the existence of a convex component as well.
机译：本文研究了美国食品制造厂的投资模式和资本调整成本的类型。这项研究首先记录了投资率的粗俗性，并表明几乎没有工厂一级的投资事件占总投资的很大一部分，这表明在食品制造业中进行大量投资的重要性。此外，本文通过估算投资风险模型，提供了资本调整成本性质的计量经济学证据，该模型确定了出现投资飙升的可能性以及影响总体投资的因素。结果支持资本调整成本同时存在凸和非凸成分。尽管在工厂级支持整块投资对于调整成本的非凸部分很重要，但风险函数的经验估计显示出向下倾斜的形状（即负持续时间依赖性），这也表明存在凸部分。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号