empirical support for our theoretical predictions. The results also help to explain some contradictory findings in the financing … constraints literature. …

likelihood that they implement their innovative investment. The probability of facing financing constraints is explained by firms …

local borrowers' financing constraints. We apply our analysis on Italian data at the local market level defined as provinces …. Our findings consistently show that increased functional distance makes financing constraints more binding, it being … on financing constraints following the actual increased functional distance over the period 1996-2003 has substantially …

likelihood that they implement their innovative investment. The probability of facing financing constraints is explained by firms …

empirical support for our theoretical predictions. The results also help to explain some contradictory findings in the financing … constraints literature. …. Firms’ investment under financing constraints A euro area investigation (1) Rozália Pál (2) , European University …

Without financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With financing … constraints, investment becomes sensitive to cash-flow. In this situation, even small taxes impose first order welfare losses, and …

We use the recent financial crisis to investigate financing constraints of private small and medium-sized enterprises …

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 an active management of working capital may help firms to alleviate the effects of financing …