Search Results - subject:"Financing constraints"

Finance and R&D Investments - is there a debt overhang effect on R&D investments?

Martinsson, Gustav - Centre of Excellence for Science and Innovation … - 2009

The motivation of this paper is the rather naive approach to debt as a financing source of R&D investment in the empirical investment literature. I focus on long-term relational debt based on its appealing contractual properties and discover a debt overhang effect for the relationship between...

Persistent link: https://www.econbiz.de/10004988934

Remittances, financing constraints growth volatility : Do remittances dampen or magnify shocks ?.

Coulibaly, Dramane - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2009

This paper studies empirically the link between remittances and growth volatility by examining the impact of remittances on the propagation of real and monetary shocks. This study is conducted by employing dynamic panel generalized method of moment (GMM) technique for a sample of 63 countries...

Persistent link: https://www.econbiz.de/10005051733

FINANCIAL DEVELOPMENT AND FINANCING CONSTRAINTS IN A DEVELOPING COUNTRY - THE CASE OF BANGLADESH

Lee, Kang Kook; Islam, Md. Rabiul - Department of Econometrics and Business Statistics, … - 2009

find that financing constraints of investment by small firms are eased along with financial development. It is likely that … non-financial firms of Bangladesh from 1992 to 2002. The empirical results show that smaller firms have greater financing … constraints to investment than larger firms due to financial market imperfection and unequal access to external finance. We also …

Persistent link: https://www.econbiz.de/10005064183

The bank lending channel reconsidered

Milne, Alistair; Wood, Geoffrey - Suomen Pankki - 2009

It has been widely accepted that constraints on the wholesale funding of bank balance sheets amplify the transmission of monetary policy through what is called the ‘bank lending channel’. We show that the effect of such bank balance sheet constraints on monetary transmission is in fact...

Persistent link: https://www.econbiz.de/10005648955

Firms’ Investment in the Presence of Labor and Financial Market Imperfections

Calcagnini, Giorgio; Giombini, Germana; Saltari, Enrico - Facoltà di Economia, Università degli Studi di Urbino - 2009

This paper analyses how financial and labor market imperfections jointly influence investment. The contemporaneous presence of imperfections in both markets gives rise to a negative correlation between EPL and investment: firms facing negative shocks see their financial constraints worsen in...

Persistent link: https://www.econbiz.de/10005558502

Impact of Economic Crises on Innovation Activity: Firm Level Evidence from Patent Data

Martinsson, Gustav; Lööf, Hans - Centre of Excellence for Science and Innovation … - 2009

Based on data from of 2,700 Swedish manufacturing firms, observed through the period 1997-2005, this paper shows that internal finance resources, measured by cash-flow, affect the propensity to apply for a patent as well as the number of patent applications. From a business cycle perspective,...

Persistent link: https://www.econbiz.de/10008506820

Internal Finance and Patents - evidence from firm-level data

Martinsson, Gustav; Lööf, Hans - Centre of Excellence for Science and Innovation … - 2009

We find that internal finance resources at the firm-level, measured by cash flow, play a non-trivial role for the number of patent applications, even after controlling for the standard variables of a patent study. The results are based on estimating panel count-data models on a sample of 2,700...

Persistent link: https://www.econbiz.de/10008546345

The role of patents and licenses in securing external finance for innovation

Harhoff, Dietmar - Economics Department, European Investment Bank (EIB) - 2009

Financing constraints have been discussed as a major obstacle to innovation. Small and medium-sized enterprises and …

Persistent link: https://www.econbiz.de/10008493109

Financing obstacles and growth: An analysis for euro area non-financial corporations

Coluzzi, Chiara; Ferrando, Annalisa; … - Banco de España - 2009

This paper investigates whether financial obstacles, and, more generally, financial pressure faced by firms, significantly affect firm growth. For this purpose, we use an unbalanced panel of about 1,000,000 observations for around 155,000 non-financial corporations in five euro area countries....

Persistent link: https://www.econbiz.de/10005155305

Corporate Investments and Financing Constraints. Analyzing Firm-Varying Investment-Cash Flow Sensitivities

D'Espallier, Bert; Vandemaele, Sigrid; Peeters, Ludo - In: Review of Business and Economics LIV (2009) 4, pp. 461-488

studying financing constraints. We go along with this approach but suggest two methodological improvements. First, we estimate …

Persistent link: https://www.econbiz.de/10008784481