Today's shortage of financial resources calls for the attention of researchers to the problem of financial constraints … faced by firms. In this paper we analyse firms' financial constraints by estimating both investment-cash flow sensitivities … smaller and do not pay dividends. However, we do not find evidence that age as a good proxy for financial constraints. Finally …

This paper explores the impact of financial constraints on the internationalization strategies of firms. It contributes … to the literature by focusing on three aspects: First, the paper studies the impact of financial constraints on exporting … relative to FDI. Consistent with theory, the empirical results confirm that the impact of financial constraints is stronger for …

.S. tend to be disproportionately drawn from the middle of the distribution. This paper argues that financial constraints may … invest in education and whether to migrate. The results show that financial constraints can explain the intermediate …

This paper explores the impact of financial constraints on the internationalization strategies of firms. It contributes … to the literature by focusing on three aspects: First, the paper studies the impact of financial constraints on exporting … relative to FDI. Consistent with theory, the empirical results confirm that the impact of financial constraints is stronger for …

Many firms cite financial constraints as some of the most important impediments to their investment and growth. Using a … than exporting alleviating firms' financial constraints. The analysis suggests that easing firms' credit constraints may …

behavior of R&D investment in credit constrained firms. In contrast, we find that in firms with no financial constraints R …