01344nas a2200193   4500008004100000245012800041210006900169260000900238300001200247490000700259520064000266653001200906653001700918100001800935700001800953700002200971700001900993856013801012       2003                        eng d00aFinancial Factors and Investment in Belgium, France, Germany, and the United Kingdom: A Comparison Using Company Panel Data0 aFinancial Factors and Investment in Belgium France Germany and t  c2003  a153-1650 v853 aWe construct company panel data sets for manufacturing firms in Belgium, France, Germany, and the United Kingdom, covering the period 1978-1989. These data sets are used to estimate empirical investment equations, and to investigate the role played by financial factors in each country. A robust finding is that cash flow and profits terms appear to be both statistically and quantitatively more significant in the United Kingdom than in the three continental European countries. This is consistent with the suggestion that financial constraints on investment may be relatively severe in the more market-oriented U.K. financial system.10aFinance10aOSU-Cascades1 aBond, Stephen1 aElston, Julie1 aMairesse, Jacques1 aMulkay, Benoit  u/biblio/financial-factors-and-investment-belgium-france-germany-and-united-kingdom-comparison-using-0