Search Results - subject:"Financing constraints"

The impact of financing constraints on markups: Theory and evidence from Italian firm level data

Bottasso, Anna; Galeotti, Marzio; Sembenelli, Alessandro - 1997

In this paper we look at both the theoretical and empirical behaviour of price-cost margins when capital market imperfections affect firms' markup policies. We present a model of a firm operating in an industry with differentiated products and facing imperfect markets for financing operations....

Persistent link: https://www.econbiz.de/10011608346

An Alternative Estimation Framework for Firm-Level Capital Investment

Fennema, Julian - Centre for Economic Reform and Transformation, School … - 2006

Our understanding of the effect of investment-financing constraints in transition economies faces significant problems …

Persistent link: https://www.econbiz.de/10005649912

Financial Innovations and Macroeconomic Volatility

Jermann, Urban; Quadrini, Vincenzo - C.E.P.R. Discussion Papers - 2006

The volatility of US business cycle has declined during the last two decades. During the same period the financial structure of firms has become more volatile. In this paper we develop a model in which financial factors play a key role in generating economic fluctuations. Innovations in...

Persistent link: https://www.econbiz.de/10005791629

What Affects New and Established Firms’ Expansion? Evidence from Small Firms in Russia

Hartarska, Valentina; Gonzalez-Vega, Claudio - In: Small Business Economics 27 (2006) 2, pp. 195-206

that financing constraints and property rights considerations affects investment in firms of different age differently … transactions. Previous studies on small enterprises in post-communist countries have focused either on the effect of financing … constraints on business growth (Budina et al., 2000, Economics of Transition <Emphasis Type="Bold">8(2), 453–475; Bratkowski et al …

Persistent link: https://www.econbiz.de/10005722443

Banking Crises, Financial Dependence and Growth

Klingebiel, Daniela; Kroszner, Randall S; Laeven, Luc - C.E.P.R. Discussion Papers - 2006

This paper investigates the growth impact of banking crises on industries with different levels of dependence on external sources of finance to analyze the mechanisms linking financial shocks and real activity. If the banking system is the key element allowing credit constraints to be relaxed,...

Persistent link: https://www.econbiz.de/10005124067

Modeling Firm Dynamics to Identify the Cost of Financing Constraints in Ghanaian Manufacturing

Schundeln, Matthias - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051313

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Acharya, Viral V; Almeida, Heitor; Campello, Murillo - C.E.P.R. Discussion Papers - 2005

We model the interplay between cash and debt policies in the presence of financial constraints. While saving cash allows constrained firms to hedge against future cash flow shortfalls, reducing current debt – ‘saving borrowing capacity’ – is a more effective way of securing investment in...

Persistent link: https://www.econbiz.de/10005124183

Financing Imperfections and the Investments Decisions of Privately Owned Firms

Caggese, Andrea - Barcelona Graduate School of Economics (Barcelona GSE) - 2005

literature focuses on the financing constraints of large publicly owned firms. This paper develops a financing constraints test …

Persistent link: https://www.econbiz.de/10010547279

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