Search Results - subject:": Financial constraints"

Financial constraints and corporate investments during the current financial and economic crisis: The credit crunch and investment decisions of Slovenian firms

Črnigoj, Matjaž; Verbič, Miroslav - In: Economic Systems 38 (2014) 4, pp. 502-517

We investigate the effect of financial constraints on the investment decisions of Slovenian firms during the current … corporate investments were significantly affected by financial constraints during the crisis. The effect of financial … financially constrained and financially unconstrained firms. The results indicate that financial constraints have a significant …

Persistent link: https://www.econbiz.de/10011115997

The real effects of financial constraints: Evidence from a debt subsidization program targeted at strategic firms

Davydova, Yulia; Sokolov, Vladimir - In: Journal of Empirical Finance 29 (2014) C, pp. 247-265

post-program period, which suggests that the program eased external financial constraints of recipient-firms. Consistent …, our findings indicate that greater cash holdings are positively associated with the level of financial constraints of …

Persistent link: https://www.econbiz.de/10011116257

What are the reliably important determinants of capital structure in china?

Chang, Chun; Chen, Xin; Liao, Guanmin - In: Pacific-Basin Finance Journal 30 (2014) C, pp. 87-113

Existing studies disagree over the basic determinants of capital structure in Chinese firms. We identify profitability, industry leverage, asset growth, tangibility, firm size, state control, and the largest shareholding as reliable core factors explaining book leverage. Compared with evidence...

Persistent link: https://www.econbiz.de/10011116401

Procurement and predation: Dynamic sourcing from financially constrained suppliers

Arve, Malin - In: Journal of Public Economics 120 (2014) C, pp. 157-168

This paper studies the relationship between a financially constrained firm and a stronger opponent who is not cash-constrained when these firms repeatedly compete in a procurement context. We characterize and discuss the procurement agency's optimal strategy when faced with such asymmetric...

Persistent link: https://www.econbiz.de/10011117641

Does employment protection legislation affect firm investment? The European case

Calcagnini, Giorgio; Ferrando, Annalisa; Giombini, Germana - In: Economic Modelling 36 (2014) C, pp. 658-665

facing financial constraints. …

Persistent link: https://www.econbiz.de/10010729843

Financial constraints for investment in Brazil

Crisóstomo, Vicente Lima; Iturriaga, Félix Javier López - In: International Journal of Managerial Finance 10 (2014) January, pp. 73-92

Purpose – The purpose of this paper is to verify the existence of financial constraints for investment in Brazil, an … firms face financial constraints since their investments depend on internally generated funds. Results are robust to … economy. Orinality/value - The results extend empirical evidence of financial constraints in Brazil. The paper contributes to …

Persistent link: https://www.econbiz.de/10010732413

Demand, q, financial constraints and shareholder value revisited: an econometric micro-analysis of US fixed investment

Schoder, Christian - In: International Journal of Economics and Business Research 7 (2014) 1, pp. 28-54

Firm-level fixed investment expenses are analysed using a large panel of US manufacturing firms from 1971 to 2007. Integrating the user cost of capital, q and accelerator theories of investment to one econometric specification, we estimate the impacts of sales growth, cash flow, the cost of...

Persistent link: https://www.econbiz.de/10010732429

What drives corporate minority acquisitions around the world? The case for financial constraints

Liao, Rose C. - In: Journal of Corporate Finance 26 (2014) C, pp. 78-95

In this paper, I examine minority block acquisitions from 1990 to 2009, as well as possible theories for the presence of equity stake purchases. I find that target firms are financially constrained. Acquisitions significantly increase their stock prices at announcement, along with their...

Persistent link: https://www.econbiz.de/10010776956

Vertical Integration and Supplier Finance

Kersting, Erasmus; Görg, Holger - Institut für Weltwirtschaft (IfW) - 2014

We investigate the financial implications of a multinational firm’s choice between outsourcing and integration from the perspective of the supplier. Using a simple model, we explore the extent to which an integrated supplier’s access to finance, as well as its sources of funding, change...

Persistent link: https://www.econbiz.de/10010886973

The impact of cash holdings and external financing on investment-cash flow sensitivity

Kim, Tae-Nyun - In: Review of Accounting and Finance 13 (2014), pp. 251-273

investment-cash flow sensitivity and financial constraints. …Purpose –This paper aims to propose several factors which can explain the negative relationship between financial … constraints and investment-cash flow sensitivity. Design/methodology/approach – The author uses traditional fixed effects model …

Persistent link: https://www.econbiz.de/10010895041