Search Results - subject:"Financial constraints"

Access to finance and firm performance : evidence from African countries

Fowowe, Babajide - In: Review of development finance 7 (2017) 1, pp. 6-17

This study conducts an empirical investigation of the effects of access to finance on the growth of firms in African countries. In order to achieve this, we made use of a new rich enterprise-level data set from the World Bank's Enterprise Surveys and employ both subjective and objective measures...

Persistent link: https://www.econbiz.de/10011714406

Davids, Goliaths, and Business Cycles

Duarte, Jefferson - 2017

We show that a simple, intuitive variable, GVD (Goliath versus David) reflects time-variation in discount rates related to changes in aggregate business conditions. GVD is the annual change in the weight of the largest 250 firms in the aggregate stock market, and is motivated by research that...

Persistent link: https://www.econbiz.de/10012974946

Access to finance and firm performance: Evidence from African countries

Fowowe, Babajide - In: Review of Development Finance 7 (2017) 1, pp. 6-17

Persistent link: https://www.econbiz.de/10015331358

Studying farm insurance demand under financial constraints

Baráth, Lajos; Bokusheva, Raushan; Fertő, Imre - 2016

We hypothesize a reciprocal causation between crop insurance use and the economic performance of farms in an environment characterized by imperfect financial markets and farms' budget constraints. To test our hypothesis, we apply a system of simultaneous equations consisting of economic...

Persistent link: https://www.econbiz.de/10011944885

Financial constraints and public funding for eco-innovation: Empirical evidence on European SMEs

Cecere, Grazia; Corrocher, Nicoletta; Mancusi, Maria Luisa - 2016

Financial constraints have an important impact on the development of eco-innovations, but their effect varies according …

Persistent link: https://www.econbiz.de/10011739620

Informal sector misallocation

Lopez-Martin, Bernabe - 2016

A quantitative framework of firm dynamics is developed where the size of the informal sector is determined by financial … constraints and the burden of taxation. Improving access to credit for formal sector firms increases aggregate TFP and output …

Persistent link: https://www.econbiz.de/10011788933

Sovereign risk and bank risk-taking

Ari, Anil - 2016

In European countries recently hit by a sovereign debt crisis, the share of domestic sovereign debt held by the national banking system has sharply increased, raising issues in their economic and financial resilience, as well as in policy design. This paper examines these issues by analyzing the...

Persistent link: https://www.econbiz.de/10011605939

Collateral damage? On collateral, corporate financing and performance

Cerqueiro, Geraldo; Ongena, Steven; Roszbach, Kasper - 2016

In this paper, we investigate the economy-wide effects of the collateral channel by exploiting: (i) a legal reform in Sweden in 2004 that reduced collateral values, and (ii) a dataset that covers all incorporated firms in Sweden over the period 2000-2006. We find that the loss in collateral...

Persistent link: https://www.econbiz.de/10011605963

Liquidity, innovation, and endogenous growth

Malamud, Semyon; Zucchi, Francesca - 2016

We study optimal liquidity management, innovation, and production decisions for a continuum of firms facing financing frictions and the threat of creative destruction. We show that financing constraints lead firms to decrease production but may spur investment in innovation (R&D). We...

Persistent link: https://www.econbiz.de/10011605964

Valuations in Corporate Takeovers and Financial Constraints on Private Targets

Greene, Daniel - 2016

I examine acquisitions of private firms by public acquirers to better understand the effects of financial constraints … relaxes financial constraints on private firms and can strengthen their bargaining position in an acquisition. Using a proxy … a result of interstate bank branching deregulation. Relaxing financial constraints on private targets leads to an …

Persistent link: https://www.econbiz.de/10012997018