Bond, Steve; Harhoff, Dietmar; Reenen, John Van - Institute for Fiscal Studies (IFS) - 1999
This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical pecifications for...
