Cash Flow as an Investment Determinant: A Note on Coen's Speed of Adjustment Model
Thomas A. Anastasiou
Journal of Social Sciences, Volume 1, Issue 3, pp. 126–127 · doi.org/10.3844/jssp.2005.126.127
Abstract
Investment models incorporating liquidity as an investment determinant and experimenting on the two possible roles that liquidity can play in an investment process - that of a direct capital stock determinant and that of a speed of adjustment determinant - should have to make a parallel search of the significance of the liquidity regressor under both assumptions, if a specific role is to be attributed to liquidity. Coen's leading model on the speed of adjustment is shown not to provide that distinction. JEL classification: E22, E62.
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Anastasiou, T. A. (2005). Cash Flow as an Investment Determinant: A Note on Coen's Speed of Adjustment Model . Journal of Social Sciences, 1(3), 126–127. https://doi.org/10.3844/jssp.2005.126.127
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