Search Results - subject:": Financial constraints"

The size distribution of monetary policy effects among South African manufacturing firms: Firm-level evidence from administrative tax data

Lesame, Keagile - 2019

Monetary policy is believed to have a disproportionate effect on firms, depending on their size. Financially constrained firms with limited access to capital markets are expected to be more sensitive to changes in interest rates; this is characteristic of small firms. This paper empirically...

Persistent link: https://www.econbiz.de/10012146521

Structural and cyclical determinants of access to finance: Evidence from Egypt

Betz, Frank; Ravasan, Farshad R.; Weiss, Christoph T. - 2019

Using panel data on Egyptian firms to explore cyclical and structural determinants of access to finance, we find that firms with more educated and more experienced managers are more likely to open a checking account, often a prerequisite for obtaining credit. Firms that started operating in the...

Persistent link: https://www.econbiz.de/10012155346

Local Capital Scarcity and Small Firm Growth: Evidence from Real Estate Booms in China

Hau, Harald; Ouyang, Difei - 2019

In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small manufacturing firms and undermine their competitiveness. Using exogenous variation in the administrative land supply across 172 Chinese cities, we show that higher predicted real...

Persistent link: https://www.econbiz.de/10012179727

Leverage over the firm life cycle, firm growth, and aggregate fluctuations

Dinlersoz, Emin Murat; Kalemli-Ozcan, Sebnem; Hyatt, … - 2019

We study the leverage of U.S. firms over their life cycles and the connection between firm leverage, firm growth, and aggregate shocks. We construct a new dataset that combines private and public firms' balance sheets with firm-level data from U.S. Census Bureau's Longitudinal Business Database...

Persistent link: https://www.econbiz.de/10012389573

The impact of financial constraints on the convertible bond announcement returns

Chang, Chong-Chuo; Kam, Tai-Yung; Chien, Chih-Chung; … - In: Economies 7 (2019) 2, pp. 1-9

As of now, very few research studies have examined the effects of financial constraints on the short- and long … funds through the issue of convertible bonds (due to financial constraints), positively affecting the performance of … companies. The results indicate that financial constraints have no effect on short-term performance, but did have a …

Persistent link: https://www.econbiz.de/10013199544

Alternative measure of financial development and investment-cash flow sensitivity: Evidence from an emerging economy

Gupta, Gaurav; Mahakud, Jitendra - In: Financial Innovation 5 (2019) 1, pp. 1-28

across the size, degree of financial constraints and group affiliation of the firm. This study employs dynamic panel data …

Persistent link: https://www.econbiz.de/10012602798

Financially constrained firms: The impact of managerial optimism and corporate investment : the case of Greece

Maditinos, Dimitrios; Tsinani, Alexandra; Šević, Željko - In: International Journal of Business and Economic Sciences … 12 (2019) 1, pp. 39-49

highest financial constraints in order to examine the impact of the behaviour of optimistic managers to firm financial … constraints. Findings: Constrained firms exhibit a lower profitability, a lower pay-out ratio, a lower excess value, and are more …

Persistent link: https://www.econbiz.de/10012622952

Competitive equilibria in matching models with financial constraints

Herings, Peter Jean-Jacques; Zhou, Yu - 2019

Persistent link: https://www.econbiz.de/10011992128

Alternative measure of financial development and investment-cash flow sensitivity : evidence from an emerging economy

Gupta, Gaurav; Mahakud, Jitendra - In: Financial innovation : FIN 5 (2019) 1, pp. 1-28

across the size, degree of financial constraints and group affiliation of the firm. This study employs dynamic panel data …

Persistent link: https://www.econbiz.de/10011972597

The size distribution of monetary policy effects among South African manufacturing firms : firm-level evidence from administrative tax data

Lesame, Keagile - 2019

Persistent link: https://www.econbiz.de/10011997546