{"id":"https://openalex.org/W1999220256","doi":"https://doi.org/10.2307/2950424","title":"Investment, Cash Flow, and Sunk Costs","display_name":"Investment, Cash Flow, and Sunk Costs","publication_year":1995,"publication_date":"1995-03-01","ids":{"openalex":"https://openalex.org/W1999220256","doi":"https://doi.org/10.2307/2950424","mag":"1999220256"},"language":"en","primary_location":{"id":"doi:10.2307/2950424","doi":"https://doi.org/10.2307/2950424","is_oa":false,"landing_page_url":"https://doi.org/10.2307/2950424","pdf_url":null,"source":{"id":"https://openalex.org/S99067594","display_name":"Journal of Industrial Economics","issn_l":"0022-1821","issn":["0022-1821","1467-6451"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Industrial Economics","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5088735044","display_name":"Paula R. Worthington","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Paula R. Worthington","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5088735044"],"corresponding_institution_ids":[],"apc_list":{"value":3350,"currency":"USD","value_usd":3350},"apc_paid":null,"fwci":5.4678,"has_fulltext":false,"cited_by_count":54,"citation_normalized_percentile":{"value":0.95295564,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":87,"max":97},"biblio":{"volume":"43","issue":"1","first_page":"49","last_page":"49"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9750999808311462,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9750999808311462,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.01360000018030405,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.003100000089034438,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cash-flow","display_name":"cash flow","score":0.7829999923706055},{"id":"https://openalex.org/keywords/investment","display_name":"investment","score":0.6230000257492065},{"id":"https://openalex.org/keywords/sunk-costs","display_name":"sunk costs","score":0.9879999756813049},{"id":"https://openalex.org/keywords/durable-goods-industry","display_name":"durable goods industry","score":0.7699999809265137},{"id":"https://openalex.org/keywords/investment-demand","display_name":"investment demand","score":0.6480000019073486},{"id":"https://openalex.org/keywords/external-financing","display_name":"external financing","score":0.6190000176429749},{"id":"https://openalex.org/keywords/specific-assets","display_name":"specific assets","score":0.6129999756813049},{"id":"https://openalex.org/keywords/manufacturing-industry","display_name":"manufacturing industry","score":0.6489999890327454}],"concepts":[{"id":"https://openalex.org/C79179835","wikidata":"https://www.wikidata.org/wiki/Q958242","display_name":"Sunk costs","level":2,"score":0.7345377802848816},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.7055435180664062},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5743252635002136},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5580103993415833},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5339431166648865},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.47216886281967163},{"id":"https://openalex.org/C38349280","wikidata":"https://www.wikidata.org/wiki/Q1434290","display_name":"Flow (mathematics)","level":2,"score":0.41682168841362},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3359526991844177},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3181360363960266},{"id":"https://openalex.org/C57879066","wikidata":"https://www.wikidata.org/wiki/Q41217","display_name":"Mechanics","level":1,"score":0.11186569929122925},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.2307/2950424","doi":"https://doi.org/10.2307/2950424","is_oa":false,"landing_page_url":"https://doi.org/10.2307/2950424","pdf_url":null,"source":{"id":"https://openalex.org/S99067594","display_name":"Journal of Industrial Economics","issn_l":"0022-1821","issn":["0022-1821","1467-6451"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Industrial Economics","raw_type":"journal-article"},{"id":"mag:3122495132","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:fip:fedhma:93-4","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:bla:jindec:v:43:y:1995:i:1:p:49-61","doi":null,"is_oa":false,"landing_page_url":"http://links.jstor.org/sici?sici=0022-1821%28199503%2943%3A1%3C49%3AICFASC%3E2.0.CO%3B2-1&origin=bc","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.6452000141143799,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"},{"score":0.4943999946117401,"id":"https://metadata.un.org/sdg/9","display_name":"Industry, innovation and infrastructure"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3005905384","https://openalex.org/W1484056603","https://openalex.org/W1606326329","https://openalex.org/W2179353985","https://openalex.org/W4242541877","https://openalex.org/W2095100954","https://openalex.org/W2366874404","https://openalex.org/W7100326858","https://openalex.org/W1563103971","https://openalex.org/W3162684779"],"abstract_inverted_index":{"This":[0],"paper's":[1],"analysis":[2],"of":[3,38,83],"U.S.":[4],"manufacturing":[5],"industries":[6,48,53,64],"confirms":[7],"previous":[8],"research":[9],"showing":[10],"that":[11,35,56,80],"cash":[12,39,57],"flow":[13,40],"and":[14,26],"investment":[15,24,42,85],"spending":[16],"are":[17,94,98],"positively":[18],"correlated,":[19],"even":[20],"after":[21],"controlling":[22],"for":[23,45,50],"demand,":[25],"it":[27],"makes":[28],"two":[29],"new":[30],"points":[31],"as":[32],"well:":[33],"firstly,":[34],"the":[36,90],"effect":[37,59],"on":[41],"is":[43,60,86],"greater":[44],"durable":[46],"goods":[47,52],"than":[49,69],"nondurable":[51],"and,":[54],"secondly,":[55],"flow's":[58],"significantly":[61],"larger":[62],"in":[63,70],"with":[65,72],"high":[66],"sunk":[67,74],"costs":[68],"those":[71],"low":[73],"costs.":[75],"The":[76],"latter":[77],"finding":[78],"suggests":[79],"external":[81],"financing":[82],"capital":[84],"more":[87],"difficult":[88],"when":[89],"assets":[91],"being":[92],"financed":[93],"highly":[95],"specific":[96],"or":[97],"sunk.":[99],"Copyright":[100],"1995":[101],"by":[102],"Blackwell":[103],"Publishing":[104],"Ltd.":[105]},"counts_by_year":[{"year":2023,"cited_by_count":3},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":3}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}