Search Results - subject:": Financial constraints"

Liquidity Contraints and Business Cycles in Developing Economies

Carmichael, Benoît; Keita, Sikoro; Samson, Lucie - In: Review of Economic Dynamics 2 (1999) 2, pp. 370-402

Open economy extensions of real business cycle models, even if generally successful, have met some difficulties replicating a few important stylized facts. In particular these models tend to predict excessive consumption smoothing and consumption correlation across countries. The observed...

Persistent link: https://www.econbiz.de/10005069684

The Cost of Recessions Revisited: A Reverse-Liquidationist View

Caballero, Ricardo; Hammour, Mohamad - C.E.P.R. Discussion Papers - 1999

The observation that liquidations are concentrated in recessions has long been the subject of controversy. One view holds that liquidations are beneficial in that they result in increased restructuring. Another view holds that liquidations are privately inefficient and essentially wasteful. This...

Persistent link: https://www.econbiz.de/10005666837

Markets Shares, Financial Constraints, and Pricing Behavior in the Export Market

Gottfries, Nils - Nationalekonomiska Institutionen, Uppsala Universitet - 1999

financial constraints affect pricing behavior. …

Persistent link: https://www.econbiz.de/10005642481

La relazione tra struttura finanziaria e decisioni reali delle imprese: una rassegna critica dell'evidenza empirica

Bottasso, Anna - In: Giornale degli Economisti 57 (1998) 1, pp. 109-155

Theoretical literature suggests that firms’ financial structure affects their real decisions because of capital markets imperfections. Several empirical studies have been conducted to test this hypothesis. This survey illustrates the main results of this literature focusing on the effects of...

Persistent link: https://www.econbiz.de/10005612319

Aggregate Investment, Tobin's q and Insolvency.

Leith, C. - Business School, University of Exeter - 1998

Despite being theoretically appealing, the standard q-theory of investment performs very poorly in empirical work. This paper extends the q-theory to include the possibility that costs associated with the risk of insolvency affect the firm's investment decisions. Using aggregate data for the UK...

Persistent link: https://www.econbiz.de/10008852380

Venture Capital Financing, Moral Hazard and Learning

Bergemann, Dirk; Hege, Ulrich - C.E.P.R. Discussion Papers - 1997

We consider the provision of venture capital in a dynamic agency model. The value of the venture project is initially uncertain and more information arrives by developing the project. The allocation of funds and the learning process are subject to moral hazard. The optimal contract is a...

Persistent link: https://www.econbiz.de/10005136446

Volatility, Financial Constraints, and trade

Garcia-Vega, Maria; Guariglia, Alessandra - Leverhulme Centre for Research on Globalisation and …

’ earnings volatility, the degree of financial constraints that they face, their survival probabilities, and their export market … participation decisions. Our model predicts that more volatile firms are more likely to face financial constraints and to go …

Persistent link: https://www.econbiz.de/10005465002

WHERE ARE THE FRAGILITIES? THE RELATIONSHIP BETWEEN FIRMS' FINANCIAL CONSTRAINTS, SIZE, AND AGE

Carreira, Carlos; Silva, Filipe - In: Managing Structural Changes - Trends and Requirements

Recessions and financial crisis increase financial constraints and disproportionally affect constrained firms. This … Chapter investigates the differences in firms’ financial constraints between sectors using a cash to cash-flow rationale …

Persistent link: https://www.econbiz.de/10010969160

Financial Constraints, the Distribution of Wealth and International Trade

Ammissah, Emmanuel; Bougheas, Spiros; Falvey, Rod - Leverhulme Centre for Research on Globalisation and …

We develop a simple theoretical model to examine the impact of the distribution of wealth on the patterns of trade when capital markets are imperfect. Our model predicts that the dispersion of wealth can be a determinant of comparative advantage for low-income countries with poor financial...

Persistent link: https://www.econbiz.de/10008492156

UK Evidence on the Effects of Firm-Specific Characteristics on the Capital-Labour ratio under Capital Market Imperfections

Marina – Eliza Spaliara - School of Economics, University of Nottingham

This paper contributes to the literature by introducing the nexus between financial constraints and the capital … JEL Classifications: E22, D92, E44 Keywords: Financial constraints, Firm-specific characteristics, Capital-Labour ratio … literature by introducing the nexus between financial constraints and the capital-labour uptake and by considering the capital …

Persistent link: https://www.econbiz.de/10005176958