Dutch inventory investment: are capital market imperfections relevant?

H Bo; G Kuper; R Lensink; E Sterken

doi:10.1080/00036840010025128

Dutch inventory investment: are capital market imperfections relevant?

H Bo^*, G Kuper, R Lensink, E Sterken

^*Corresponding author for this work

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Abstract

This paper analyses inventory investment using a balanced panel of 82 Dutch firms. We start from the Lovell (1961) inventory model and amend it with cash flow to introduce capital market imperfections. The empirical evidence provides support for the relevance of capital market imperfections in explaining Dutch inventory investment. The results suggest that cash flow is a relevant variable omitted from the original Lovell model. The study provides a better understanding of inventory behaviour in general.

Original language	English
Pages (from-to)	15-22
Number of pages	8
Journal	Applied Economics
Volume	34
Issue number	1
DOIs	https://doi.org/10.1080/00036840010025128
Publication status	Published - Jan-2002

Keywords

CREDIT CONDITIONS
CONSTRAINTS
PANEL

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title = "Dutch inventory investment: are capital market imperfections relevant?",

abstract = "This paper analyses inventory investment using a balanced panel of 82 Dutch firms. We start from the Lovell (1961) inventory model and amend it with cash flow to introduce capital market imperfections. The empirical evidence provides support for the relevance of capital market imperfections in explaining Dutch inventory investment. The results suggest that cash flow is a relevant variable omitted from the original Lovell model. The study provides a better understanding of inventory behaviour in general.",

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Dutch inventory investment: are capital market imperfections relevant?

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