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oapen-20.500.12657-434062023-02-01T09:33:55Z EIB Working Papers 2019/04 - Can survey-based information help to assess investment gaps in the EU? (Volume 2019/4) Dejuan, Daniel Alves, Pana Maurin, Laurent European Investment Bank Business & Economics Finance General bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance Information from surveys can be used alongside macroeconomic indicators to provide a better understanding of the obstacles to investment faced by firms. This study uses merged firm level data from the European Investment Bank Investment Survey (EIBIS) and hard data from firms’ balance sheets and profit and loss information to investigate how well survey results correlate with macro-based hard data. Firms’ perceptions of impediments to investment tend to be related to firms’ specific characteristics: firms that are smaller, more indebted, less profitable or with less liquidity, tend to report more impediments. Nonetheless, after controlling for firm specific characteristics, the investment gaps reported by firms remain correlated with the reported impediments. 2020-12-15T13:27:01Z 2020-12-15T13:27:01Z 2019 book 9789286142345 https://library.oapen.org/handle/20.500.12657/43406 eng application/pdf n/a external_content.pdf European Investment Bank European Investment Bank https://doi.org/10.2867/9430 https://doi.org/10.2867/9430 66479d04-7b84-49c0-9a4d-db552a3ecc71 b818ba9d-2dd9-4fd7-a364-7f305aef7ee9 9789286142345 Knowledge Unlatched (KU) European Investment Bank Knowledge Unlatched open access
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Information from surveys can be used alongside macroeconomic indicators to provide a better understanding of the obstacles to investment faced by firms. This study uses merged firm level data from the European Investment Bank Investment Survey (EIBIS) and hard data from firms’ balance sheets and profit and loss information to investigate how well survey results correlate with macro-based hard data. Firms’ perceptions of impediments to investment tend to be related to firms’ specific characteristics: firms that are smaller, more indebted, less profitable or with less liquidity, tend to report more impediments. Nonetheless, after controlling for firm specific characteristics, the investment gaps reported by firms remain correlated with the reported impediments.
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