Sequential coding schemes for an additive noise channel with a noisy feedback link Technical report, May - Aug. 1966

Sequential coding scheme for additive Gaussian channel with noisy feedback lin

Maximum likelihood identification of stochastic linear systems

Maximum likelihood identification of stochastic linear system

Maximum likelhood identification of stochastic linear systems

Maximum likelihood identification of stochastic linear system

Atypical presentation of visceral leishmaniasis from non-endemic region

A case of atypical and acute presentation of visceral leishmaniasis from non-endemic region, characterised by exudative pleural effusion and hepatitis is reporte

Recursive algorithms for pattern classification using misclassified samples

Recursive algorithms for pattern classification of misclassified sample

Internal Finance and Firm Investment

We examine the neoclassical investment model using a panel of U.S. manufacturing firms. The standard model with no financing constraints cannot be rejected for firms with high (pre-sample) dividend payouts. However, it is decisively rejected for firms with low (pre-sample) payouts (firms we expect to face financing constraints). Hem, investment is sensitive to both firm cash flow and macroeconomic credit conditions, holding constant investment opportunities. Sample splits based on firm size or maturity do not produce such distinctions. The latter comparison identifies firms where "free-cash-flow" problems might be expected to produce correlations between investment and cash flow.