Search Results - subject:": Financial constraints"

Cash holdings, corporate governance and financial constraints

Saddour, Khaoula; Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2007

We examine the relation between cash holdings, quality of governance and financial constraints. We find that firms with …

Persistent link: https://www.econbiz.de/10010708333

International Trade and Domestic Distortions: Modelling the Transition Process

Gaffard, Jean-Luc; Saraceno, Francesco - Department of Economics, Sciences économiques - 2007

According to the standard view, when full competition prevails in product, labour, and capital markets, positive or negative exter- nal trade shocks may be accommodated by the migration of jobs be- tween sectors; the negative impact on some households income of lower nominal wages will be more...

Persistent link: https://www.econbiz.de/10010756449

Cash holdings, corporate governance and financial constraints

Ginglinger, Edith; Saddour, Khaoula - HAL - 2007

We examine the relation between cash holdings, quality of governance and financial constraints. We find that firms with …

Persistent link: https://www.econbiz.de/10008794416

Small-Scale Business Survival and Inheritance: Evidence from Germany

Schäfer, Dorothea; Talavera, Oleksandr - 2006

In this paper we investigate whether small-scale businesses face financial constraints that affect their survival. We … develop a model of moral hazard in which financial constraints arise endogenously. The model predicts that higher private … assets relax financial constraints and have a positive effect on the firm's probability of survival. We test this proposition …

Persistent link: https://www.econbiz.de/10010260992

Financial fragility and growth dynamics of Italian business firms

Bottazzi, Giulio; Secchi, Angelo; Tamagni, Federico - 2006

growing ones might be exposed to financial constraints. …

Persistent link: https://www.econbiz.de/10010328482

The response of firms' investment and financing to adverse cash flow shocks: the role of bank relationships

Fuss, Catherine; Vermeulen, Philip - 2006

We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment show that both types of firms are equally subject to...

Persistent link: https://www.econbiz.de/10011506609

The response of firms‘ investment and financing to adverse cash flow shocks: the role of bank relationships

Fuss, Catherine; Vermeulen, Philip - 2006

Persistent link: https://www.econbiz.de/10011604704

The effect of financial development on the investment cash flow relationship: cross-country evidence from Europe

Becker, Bo; Sivadasan, Jagadeesh - 2006

that financial development may mitigate financial constraints. This effect is weaker in conglomerate subsidiaries, which …

Persistent link: https://www.econbiz.de/10011604735

The Determinants and Implications of Financial Asset Holdings of Non-Financial Firms in Turkey : An Emprical Investigation

Kaplan, Cafer; Ozmen, Erdal; Yalcin, Cihan - Türkiye Cumhuriyet Merkez Bankası - 2006

“economies of scale” argument of the trade-off theory, but reflecting a plausible argument that financial constraints decrease … fully conveyed by the fundamental Q rather than the degree of financial constraints. This paper also argues that the … FA holdings of firms in many industrial countries during the last decade in spite of declining financial constraints due …

Persistent link: https://www.econbiz.de/10005504814

The response of firms‘ investment and financing to adverse cash flow shocks: the role of bank relationships

Fuss, Catherine; Vermeulen, Philip - European Central Bank - 2006

debt becomes more sensitive to the size and leverage of the firm. Keywords: financial constraints, lending … that it is especially in times of adverse cash flows that financial constraints are more likely to be binding and that … stronger financial constraints in periods of adverse cash flow shocks. Our estimates suggest that financial constraints bind …

Persistent link: https://www.econbiz.de/10005530672