Poncet, Sandra; Steingress, Walter; Vandenbussche, Hylke - Center for Operations Research and Econometrics … - 2008
boost the investment of private firms.
Keywords: investment-cashflow sensitivity, China, firm level data, foreign direct … interest is the cash-flow ratio (
1
1
it
it
CF
K
−
, −
) whose sign and
significance is our measure of credit constraints … entry of
new firms). Our main variable of interest is the coefficient on the cash-flow. When
investment significantly …