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Financialization and Portuguese real investment: a supportive or disruptive relationship?

2017-09-19Journal article Restricted access
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dc.contributor.authorBarradas, Ricardo
dc.contributor.authorLagoa, Sérgio
dc.date.accessioned2018-02-26T16:04:06Z
dc.date.available2019-09-01T00:30:13Z
dc.date.issued2017-09-19
dc.descriptionArtigo em revista científica internacional com arbitragem científicapt_PT
dc.description.abstractThe article makes an empirical analysis of the relationship between financialization and real investment by Portuguese nonfinancial corporations from 1979 to 2013. In theory, while financialization leads to a rise in financial investments by nonfinancial corporations and thus deviates funds from real investment, it also intensifies the pressure for financial payments and therefore restricts the funds available for real investment. We estimate an aggregate investment function including control variables (profitability, debt, cost of capital and output growth) and two measures of financialization (financial receipts and financial payments). The study concludes that there is a long-term investment equation, and finds evidence that the process of financialization has hampered real investment largely as a result of financial payments. The article also finds that profitability and debt are both detrimental to real investment.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.doi10.1080/01603477.2017.1286940pt_PT
dc.identifier.issn0160-3477
dc.identifier.urihttps://ciencia.iscte-iul.pt/id/ci-pub-38989
dc.identifier.urihttp://hdl.handle.net/10400.21/8100
dc.identifier.urihttp://hdl.handle.net/10400.21/8137
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherTaylor & Francispt_PT
dc.relation.ispartofseries;3
dc.relation.publisherversionhttp://www.tandfonline.com/doi/pdf/10.1080/01603477.2017.1286940?needAccess=truept_PT
dc.subjectFinancializationpt_PT
dc.subjectInvestmentpt_PT
dc.subjectVector error correction modelpt_PT
dc.titleFinancialization and Portuguese real investment: a supportive or disruptive relationship?pt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.conferencePlaceReino Unidopt_PT
oaire.citation.endPage439pt_PT
oaire.citation.startPage413pt_PT
oaire.citation.titleJournal of Post Keynesian Economicspt_PT
oaire.citation.volume40pt_PT
person.familyNameBarradas
person.familyNameLagoa
person.givenNameRicardo
person.givenNameSérgio
person.identifier.ciencia-id061D-E6BF-503D
person.identifier.orcid0000-0003-0212-3568
person.identifier.orcid0000-0003-2790-6518
person.identifier.scopus-author-id57131382000
rcaap.rightsrestrictedAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublicationc0fa42ef-438a-4757-b835-19de30af5ed6
relation.isAuthorOfPublicationa2ba08a2-3a40-47a9-a2e3-84b111ac6b99
relation.isAuthorOfPublication.latestForDiscoveryc0fa42ef-438a-4757-b835-19de30af5ed6

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