Does information and communication technology matter for corporate investment? International evidence Muhammad Yusuf Indra Purnama
1.Department of Finance, National Central University, Taiwan
2.Department of Economics, Faculty of Economics and Business, Universitas Sebelas Maret, Surakarta
Abstract
In this study, we examine the effect of information and communication technology on
corporate investment across 88 countries and spanning from 2000 to 2020. Additionally, we also focus on how such relationship can vary by financial constraints. Our main finding is that technological inclusion of information and communication technology is positively related to corporate investment. The effect is less apparent for firms facing financial constraints. Our results may yield implications that policymakers should consider the decisions of financially constrained firms when designing policies related to facilitating technological inclusion of information and communication technology.
Keywords: Corporate investment, information and communication technology
