05707oam 22015254 450 991016294460332120250426110921.09781475568189147556818597814755682021475568207(CKB)3710000001045028(MiAaPQ)EBC4800273(IMF)WPIEA2016248WPIEA2016248(EXLCZ)99371000000104502820020129d2016 uf 0engurcnu||||||||rdacontentrdamediardacarrierDoes Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus /Sophia Chen, Yinqiu LuWashington, D.C. :International Monetary Fund,2016.1 online resource (27 pages) illustrations (some color), graphs, tablesIMF Working Papers9781475563122 1475563124 Includes bibliographical references.Fixed investment was the most important contributing factor to the boom-bust cycle in Cyprus over the last decade. Investment boomed during a credit boom in mid-2000s, during which the corporate sector borrowed heavily. Investment collapsed after 2008 when the credit boom ended. Investment and corporate balance sheets further deteriorated during the Cypriot banking crisis over 2012–2014. Using firm-level investment and balance sheet data, we find that corporate indebtedness is negatively associated with investment both before and after the banking crisis, although the effect is weaker after the Cypriot banking crisis, possibly due to the reduced role of credit in driving post-crisis investment and growth. Our results suggest the need to repair corporate balance sheets to support sustainable invesetment.IMF Working Papers; Working Paper ;No. 2016/248Public investmentsFinancial statementsBanks and bankingAccountingimfBanks and BankingimfFinancial Risk ManagementimfLaborimfMoney and Monetary PolicyimfInvestmentimfCapitalimfIntangible CapitalimfCapacityimfBusiness FluctuationsimfCyclesimfFinancial Markets and the MacroeconomyimfCapital BudgetingimfFixed Investment and Inventory StudiesimfFinancing PolicyimfFinancial Risk and Risk ManagementimfCapital and Ownership StructureimfValue of FirmsimfGoodwillimfPublic AdministrationimfPublic Sector Accounting and AuditsimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfFinancial CrisesimfWages, Compensation, and Labor Costs: GeneralimfFinancial reporting, financial statementsimfMonetary economicsimfEconomic & financial crises & disastersimfLabourimfincome economicsimfFinancial statementsimfCurrenciesimfWagesimfFinancial crisesimfBanking crisesimfPublic financial management (PFM)imfMoneyimfFinance, PublicimfIncome economicsimfCyprusimfPublic investments.Financial statements.Banks and banking.AccountingBanks and BankingFinancial Risk ManagementLaborMoney and Monetary PolicyInvestmentCapitalIntangible CapitalCapacityBusiness FluctuationsCyclesFinancial Markets and the MacroeconomyCapital BudgetingFixed Investment and Inventory StudiesFinancing PolicyFinancial Risk and Risk ManagementCapital and Ownership StructureValue of FirmsGoodwillPublic AdministrationPublic Sector Accounting and AuditsMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsFinancial CrisesWages, Compensation, and Labor Costs: GeneralFinancial reporting, financial statementsMonetary economicsEconomic & financial crises & disastersLabourincome economicsFinancial statementsCurrenciesWagesFinancial crisesBanking crisesPublic financial management (PFM)MoneyFinance, PublicIncome economics332.67252Chen Sophia1208992Lu Yinqiu1114888DcWaIMFBOOK9910162944603321Does Balance Sheet Strength Drive the Investment Cycle? Evidence from Pre- and Post-Crisis Cyprus3652820UNINA