Search Results - subject:"Financing Constraints"

Investment and Asset Prices with Financing Constraints

Yaron, Amir; Gomes, Joao - Society for Economic Dynamics - SED - 2004

investigate the effects of financing constraints on firm level investment behavior. Specifically we derive explicit relations …

Persistent link: https://www.econbiz.de/10005027254

The Composition of International Capital Flows: Risk Sharing Through Foreign Direct Investment

Albuquerque, Rui - EconWPA - 2004

financial contracts and inalienability of FDI. Imperfect enforcement of contracts leads to endogenous financing constraints and … and country risk ratings to measure financing constraints, I present new evidence linking FDI and financing constraints …

Persistent link: https://www.econbiz.de/10005119449

Testing Financing Constraints on Firm Investment Using Variable Capital

Caggese, Andrea - Barcelona Graduate School of Economics (Barcelona GSE) - 2003

of financing constraints. In this paper we develop a new method to detect the presence of financing constraints at firm … main reason why the sensitivity of fixed investment to cash flow is not a good measure of financing constraints. Using the … fact that variable capital is reversible, we develop a new test of financing constraints based on a reduced form variable …

Persistent link: https://www.econbiz.de/10010851322

Impact of Uncertainty and Sunk Costs on Firm Survival and Industry Dynamics

Ghosal, Vivek - Abteilung "Wettbewerbsfähigkeit und industrieller … - 2003

This paper examines the role played by uncertainty and sunk costs on the timeseries fluctuations in industry structure as captured by the number of firms and establishments, and concentration. Using an extensive dataset covering 267 U.S. manufacturing industries over a 30-year period, our...

Persistent link: https://www.econbiz.de/10005272744

Asset Pricing Implications of Firms' Financing Constraints

Gomes, Joao F; Yaron, Amir; Zhang, Lu - C.E.P.R. Discussion Papers - 2002

pricing kernel that incorporates the effects of financing constraints on investment behavior. The key ingredients in this …

Persistent link: https://www.econbiz.de/10005497817

Understanding Bilateral Exchange Rate Volatility

Devereux, Michael B; Lane, Philip R. - C.E.P.R. Discussion Papers - 2002

This Paper develops an empirical model of bilateral exchange rate volatility. We conjecture that for developing economies, external financial liabilities have an important effect on desired bilateral exchange rate volatility, above and beyond the standard Optimal Currency Area (OCA) factors. By...

Persistent link: https://www.econbiz.de/10005123661

On the Evolution of the Firm Size Distribution: Facts and Theory

Cabral, Luís M B; Mata, José - C.E.P.R. Discussion Papers - 2001

Using a comprehensive data set of Portuguese manufacturing firms, we show that the firm size distribution is significantly right-skewed, evolving over time toward a log-normal distribution. We also show that selection accounts for very little of this evolution. Instead, we propose a simple...

Persistent link: https://www.econbiz.de/10005504696

Financing Constraints, Irreversibility, and Investment Dynamics

Caggese, Andrea - Barcelona Graduate School of Economics (Barcelona GSE) - 2001

We develop a model of an industry with many heterogeneous firms that face both financing constraints and …

Persistent link: https://www.econbiz.de/10010547393

Form of Ownership and Financial Constraints:Panel Data Evidence From Flow of Funds and Investment Equations

Schiantarelli, Fabio; Sembenelli, Alessandro - In: Empirica 27 (2000) 2, pp. 175-192

Persistent link: https://www.econbiz.de/10005680771

R&D Financing Constraints of Young and Old Innovation Leaders in the EU and the US

Cincera, Michele; Ravet, Julien; Veugelers, Reinhilde - International Centre for Innovation, Technology and …

estimation of the investment error correction model, whether younger innovators face more severe or no financing constraints, as … confirms that over the last decade young leading innovators appear to be more affected by financing constraints compared to …

Persistent link: https://www.econbiz.de/10010747040