Please use this identifier to cite or link to this item:
http://hdl.handle.net/2445/12059
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Navas, Jorge | cat |
dc.contributor.author | Marín Solano, Jesús | cat |
dc.date.accessioned | 2010-04-12T09:58:07Z | - |
dc.date.available | 2010-04-12T09:58:07Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/2445/12059 | - |
dc.description.abstract | The usual assumption when considering investment grants is that grant payments are automatic when investments are undertaken. However, evidence from case studies shows that there can exist some time lag until funds are received by granted firms. In this paper the effects of delays in grant payments on the optimal investment policy of the firm are analyzed. It is shown how these delays lead not only to a higher financing cost but to an effective reduction in the investment grant rate, and in some cases, how benefits from investment grants could be canceled due to interactions with tax effects. | eng |
dc.description.abstract | El supuesto habitual cuando se consideran subvenciones a la inversión es que los pagos asociados se reciben automática e instantáneamente cuando se emprenden las inversiones. Sin embargo la evidencia empírica muestra que frecuentemente existen retrasos en el cobro de las subvenciones. En este trabajo se analizan los efectos de estos retrasos en la política óptima de la empresa, y se demuestra que éstos conllevan no únicamente un mayor coste financiero sino una reducción efectiva de la subvención, y que en algunos casos ésta puede ser totalmente absorbida a consecuencia de los efectos fiscales. | spa |
dc.format.extent | 172264 bytes | - |
dc.format.extent | 14 p. | - |
dc.format.mimetype | application/pdf | - |
dc.language.iso | eng | eng |
dc.publisher | Universitat de Barcelona. Facultat d'Economia i Empresa | cat |
dc.relation.isformatof | Reproducció digital del document publicat a http://www.ere.ub.es/dtreball/E06161.rdf/view | cat |
dc.relation.ispartof | Documents de treball (Facultat d'Economia i Empresa. Espai de Recerca en Economia), 2006, E06/161 | cat |
dc.relation.ispartofseries | [WP E-Eco06/161] | - |
dc.rights | cc-by-nc-nd, (c) Navas et al., 2006 | - |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/es/ | - |
dc.source | UB Economics – Working Papers [ERE] | - |
dc.subject.classification | Empreses | cat |
dc.subject.classification | Subvencions | cat |
dc.subject.classification | Inversions | cat |
dc.subject.classification | Pagament | cat |
dc.subject.classification | Capital | cat |
dc.subject.other | Enterprises | eng |
dc.subject.other | Subsidies | eng |
dc.subject.other | Investments | eng |
dc.subject.other | Payment | eng |
dc.subject.other | Capital | eng |
dc.title | User cost of capital with delayed investment grants | eng |
dc.type | info:eu-repo/semantics/workingPaper | eng |
dc.rights.accessRights | info:eu-repo/semantics/openAccess | - |
Appears in Collections: | UB Economics – Working Papers [ERE] Documents de treball (Matemàtica Econòmica, Financera i Actuarial) |
This item is licensed under a
Creative Commons License