1 |
Aivazian, V., Ge, Y., & Qiu, J. (2005). The impact of leverage on firm investment: Canadian evidence. Journal of Corporate Finance. 11, 277-291. https://doi.org/10.1016/S0929-1199(03)00062-2
DOI
|
2 |
Arellano, M., & Bover, O. (1995). Another look at the instrumental-variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51. https://doi.org/10.1016/0304-4076(94)01642-D
DOI
|
3 |
Kaloud, T. (2017). Renewable energy sources and investment in European power transmission networks (Working Papers No. WUWP249). Vienna, Austria: Vienna University of Economics and Business, Department of Economics.
|
4 |
Kang, J. (2016). Labor market evaluation versus legacy conservation: What factors determine retiring CEOs' decisions about long-term investment? Strategic Management Journal, 37(2), 389-405. https://doi.org/10.1002/smj.2234
DOI
|
5 |
Lang, L., Ofek, E., & Stulz, R. (1996). Leverage, investment, and firm growth. Journal of Financial Economics, 40(1), 3-29. https://doi.org/10.1016/0304-405X(95)00842-3
DOI
|
6 |
Leibenstein, H. (1973). Competition and X-efficiency. Journal of Political Economy, 81(3), 765-777. https://doi.org/10.1086/260073
DOI
|
7 |
Armeanu, D. S., Vintila, G., & Gherghina, S. (2017). Does renewable energy drive sustainable economic growth? Multivariate panel data evidence for EU-28 countries. Energies, 10(3), 1-21. https://doi.org/10.3390/en10030381
DOI
|
8 |
Baltagi, B. H. (2013). Econometric Analysis of Panel Data (5th ed.). Chichester, NJ: John Wiley & Sons.
|
9 |
Becerra, M., & Markarian, G. (2013). The bowman paradox and industry competition: Dynamics of the risk-performance relationship. Jornadas de Economia Industrial, 38, 1-40.
|
10 |
Zaludin, Z., Sarita, B., Syaifuddin, D. T., & Sujono, S. (2021). The effects of managerial overconfidence and corporate governance on investment decisions: An empirical study from Indonesia. Journal of Asian Finance, Economics, and Business, 8(10), 361-371. https://doi.org/10.13106/jafeb.2021.vol8.no10.0361
DOI
|
11 |
Cullmann, A., & Nieswand, M. (2016). Regulation and investment incentives in electricity distribution: An empirical assessment. Energy Economics, 57(6), 192-203. https://doi.org/10.1016/j.eneco.2016.05.007
DOI
|
12 |
Aghion, P., Bloom, N., Blundell, R., Griffith, R., & Howitt, P. (2005). Competition and innovation: An inverted-U relationship. Quarterly Journal of Economics, 5(2), 701-728. https://doi.org/10.1093/qje/120.2.701
DOI
|
13 |
Blundell, R. W., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143. https://doi.org/10.1016/S0304-4076(98)00009-8
DOI
|
14 |
Mileva, E. (2007). Using Arellano Bond Dynamic Panel GMM Estimators in Stata. Fordham University, New York.
|
15 |
Dogl, C., Holtbrugge, D., & Schuster, T. (2012). The competitive advantage of German renewable energy firms in India and China: An empirical study based on Porter's (1990) diamond. International Journal of Emerging Markets, 7(2), 191-214. http://doi.org/10.1108/17468801211209956
DOI
|
16 |
Medvedev, A., & Zemplinerova, A. (2005). Does competition improve performance? Evidence from the Czech manufacturing industries. Prague Economic Papers, 14(4), 317-330. https://doi.org/10.18267/j.pep.268
DOI
|
17 |
Cambini, C., & Rondi, L. (2010). Incentive regulation and investment: Evidence from European energy utilities. Journal of Regulatory Economics, 38(1), 1-26. https://doi.org/10.1007/s11149-009-9111-6
DOI
|
18 |
Chong, V. K., & Rundus, M. J. (2004). Total quality management, market competition, and organizational performance. British Accounting Review, 36(2), 155-172. https://doi.org/10.1016/j.bar.2003.10.006
DOI
|
19 |
Chang, K., Zeng, Y., Wang, W., & Wu, X. (2019). The effects of credit policy and financial constraints on tangible and research and development investment: Firm-level evidence from China's renewable energy industry. Energy Policy, 130, 438-447. https://doi.org/10.1016/j.enpol.2019.04.005
DOI
|
20 |
Cleary, S. (1999). The relationship between firm investment and financial status. Journal of Finance, 54(2), 673-692. https://doi.org/10.1111/0022-1082.00121
DOI
|
21 |
Fazzari, S. M., Hubbard, R. G., Petersen, B. C., Blinder, A. S., & Poterba, J. M. (1988). Financing constraints and corporate investment. Brookings Papers on Economic Activity, 1988(1), 141-206. https://doi.org/10.2307/2534426
DOI
|
22 |
Gujarati, D. N. (2004). Basic econometrics (4th ed). New York, NY: McGraw-Hill Companies.
|
23 |
Thu, P. A., & Khuong, N. V. (2018). Factors affect corporate cash holdings of the energy enterprises listed on Vietnam's stock market. International Journal of Energy Economics and Policy, 8(5), 29-34.
|
24 |
Hutchinson, M. (2001). A contracting-agency analysis of the association between firm risk, incentives and firm performance: An Australian perspective. School of accounting and finance (Working Paper No. 2001-05). Victoria, Australia: Deakin University. https://espace.library.uq.edu.au/data/UQ_3395/Hutchinson_2002_An_analysis_of_the_association_between_firms.pdf?
|
25 |
Modigliani, F., & Miller, M. (1958). The cost of capital, corporation finance, and the theory of investment. American Economic Review, 48, 261-297.
|
26 |
Phan, D. T., & Nguyen, H. T. (2020). Factors affecting corporate investment decision: Evidence from Vietnamese economic groups. Journal of Asian Finance, Economics, and Business, 7(11), 177-184. https://doi.org/10.13106/jafeb.2020.vol7.no11.177
DOI
|
27 |
Porter, M. E. (1990). The competitive advantage of nations. Thousand Oaks, CA: Sage Publications.
|
28 |
Schmidt, K. M. (1997). Managerial incentives and product market competition. Review of Economic Studies, 64(2), 191-213. https://doi.org/10.2307/2971709
DOI
|
29 |
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-X
DOI
|
30 |
Hala, Y., Abdullah, M. W., Andayani, W., Ilyas, G. B., & Akob, M. (2020). The financial behavior of investment decision-making between real and financial assets sectors. Journal of Asian Finance, Economics, and Business, 7(12), 635-645. https://doi.org/10.13106/jafeb.2020.vol7.no12.635
DOI
|
31 |
Kaplan, S. N., & Zingales, L. (1997). Do investment-cash flow sensitivities provide useful measures of financing constraints? Quarterly Journal of Economics, 112(1), 169-215. https://doi.org/10.1162/003355397555163
DOI
|
32 |
Opler, T. (1999), The determinants and implications of corporate cash holdings. Journal of Financial Economics, 52(1), 3-46. https://doi.org/10.1016/S0304-405X(99)00003-3
DOI
|
33 |
Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in stata. The Stata Journal, 9:1, 86-136.
DOI
|
34 |
Verbeek, M. (2004). A guide to modern econometrics (2nd ed). Chichester, NJ: John Wiley & Sons, Inc.
|
35 |
Zhang, D., Cao, H., & Zou, P. (2016). Exuberance in China's renewable energy investment: Rationality, capital structure, and implications with firm-level evidence. Energy Policy, 95(C), 468-478. https://doi.org/10.1016/j.enpol.2015.12.005
DOI
|
36 |
Hart, O. D. (1983). The market mechanism is an incentive scheme. Bell Journal of Economics, 14(2), 366-382. https://doi.org/10.2307/3003639
DOI
|
37 |
Wang, S., Jou, Y., Chang, K., & Wu, K. (2014). Industry competition, agency problems, and firm performance. Romanian Journal of Economic Forecasting, 16(4), 76-93.
|
38 |
Xuan, V. N. (2020). Determinants of investment capital size: A case of small and medium-sized enterprises in Vietnam. Journal of Asian Finance, Economics, and Business, 7(6), 19-27. https://doi.org/10.13106/jafeb.2020.vol7.no6.019
DOI
|
39 |
Ahmad, M., & Zhao, Z. (2018). Causal linkages between energy investment and economic growth: A panel data modeling analysis of China. Energy Sources, Part B, 13(8), 363-374. https://doi.org/10.1080/15567249.2018.1495278
DOI
|
40 |
Aguilar, F. X., & Cai, Z. (2010). Exploratory analysis of prospects for renewable energy private investment in the U. S. Energy Economics, 32(6), 1245-1252. https://doi.org/10.1016/j.eneco.2010.05.012
DOI
|
41 |
Angelopoulos, D., Doukas, H., Psarras, J., & Stamtsis, G. (2017). Risk-based analysis and policy implications for renewable energy investments in Greece. Energy Policy. 6, 105, 512-523. https://doi.org/10.1016/j.enpol.2017.02.048
DOI
|
42 |
Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58(2), 277-297. https://doi.org/10.2307/2297968
DOI
|
43 |
Aghion, P., Harris, C., Howitt, P., & Vickers, J. (2001). Competition, imitation, and growth with step-by-step innovation. Review of Economic Studies. July, 68(3), 467-492. https://doi.org/10.1111/1467-937X.00177
DOI
|