Search Results - subject:"Financing Constraints"

Investment and financing constraints in China: does working capital management make a difference?

Ding, Sai; Guariglia, Alessandra; Knight, John - Leverhulme Centre for Research on Globalisation and …

linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by … that, despite severe external financing constraints, those firms with low FKS and high WKS exhibit the highest fixed … investment rates. This suggests that good working capital management may help firms to alleviate the effects of financing …

Persistent link: https://www.econbiz.de/10010610372

Distances and Small Business Credit Constraints: the French case.

Djedidi-Kooli, Salima - Université Paris-Dauphine

a measure of financing constraints. These adverse effects are particularly acute for small firms. …

Persistent link: https://www.econbiz.de/10008917385

A Simple Model of the Firm Life Cycle

SCHENK-HOPPE, Klaus REINER; SCHWERI, Urs

This paper presents a simple model of the firm life cycle that cap- tures several stylized economic and financial features which usually require considerably more demanding approaches. We study the opti- mal capital accumulation policy of a financially constrained firm whose revenue is subject...

Persistent link: https://www.econbiz.de/10008922940

Evidence on the external finance premium from the US and emerging Asian corporate bond markets

Mizen, Paul; Tsoukas, Serafeim - Centre for Finance, Credit and Macroeconomics (CFCM), …

Empirical investigation of the external finance premium has been conducted on the margin between internal finance and bank borrowing or equities but little attention has been given to corporate bonds especially for the emerging Asian market. In this paper we hypothesize that balance sheet...

Persistent link: https://www.econbiz.de/10008862651

The Cyclical Dynamics of Investment: The Role of Financing and Irreversibility Constraints

Tsoukalas, John D. - Centre for Finance, Credit and Macroeconomics (CFCM), …

irreversibility and financing constraints. The usefulness of this explanation in relation to competing hypotheses, relies on the fact … shocks, financing constraints are sufficient but not necessary to explain procyclicality. This implies that fixed investment …

Persistent link: https://www.econbiz.de/10008862655

Does the Investment Opportunities Bias Affect the Investment-Cash Flow Sensitivities of Unlisted SMEs?

Bert D’Espallier; Guariglia, Alessandra - Centre for Finance, Credit and Macroeconomics (CFCM), …

are significantly related to a wide set of proxies for financing constraints. These findings suggest that the ICFS of SMEs …

Persistent link: https://www.econbiz.de/10008871012

Firm Behaviour Under the Threat of Liquidation: Implications for Output, Investment & Business Cycle Transmission

Milne, Alistair; Robertson, Donald - School of Economics, University of Surrey - 1994

Cash balances of the firm follow a diffusion process, triggering liquidation when they cross a threshold value. Access to external funds is constrained. Shareholders are impatient. With these assumptions there is a precautionary motive for retaining earnings; the internal cost of funds and local...

Persistent link: https://www.econbiz.de/10005543360

Financing Constraints and Corporate Investment

Fazzari, Steven M.; Hubbard, R. Glenn; PETERSEN, BRUCE C. - In: Brookings Papers on Economic Activity 19 (1988) 1, pp. 141-206

Persistent link: https://www.econbiz.de/10005053868

Credit channel, trade credit channel, and inventory investment: evidence from a panel of UK firms

Mateut, Simona; Guariglia, Alessandra - Centre for Finance, Credit and Macroeconomics (CFCM), …

assets ratio, differentiating the effects of the latter variables across firms more or less likely to face financing … constraints, and firms making a high or low use of trade credit. Our results suggest that both the credit and the trade credit …

Persistent link: https://www.econbiz.de/10008852462