TY  - JOUR
AU  - Anastasiou, Thomas A. 
PY  - 2005
TI  - Cash Flow as an Investment Determinant: A Note on Coen's Speed of Adjustment Model 
JF  - Journal of Social Sciences
VL  - 1
IS  - 3
DO  - 10.3844/jssp.2005.126.127
UR  - https://thescipub.com/abstract/jssp.2005.126.127
AB  - Investment models incorporating liquidity as an investment determinant and experimenting on the two possible roles that liquidity can play in an investment process - that of a direct capital stock determinant and that of a speed of adjustment determinant - should have to make a parallel search of the significance of the liquidity regressor under both assumptions, if a specific role is to be attributed to liquidity. Coen's leading model on the speed of adjustment is shown not to provide that distinction. JEL classification: E22, E62.