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 …

&D) to provide new tests for the impact financing constraints have on real activity. A positive R&D sensitivity to asset sale … proceeds indicates binding financing constraints since cash inflows from tangible asset sales are negatively correlated with … only among firms most likely facing binding financing constraints. These results offer robust evidence that financing …

returns than for the non-high oil price events. Firms with financing constraints find that the adverse impact of a surprise …

We present a dynamic model in which firms accumulate wealth to avoid bankruptcy and to overcome financing constraints … that affect their fixed operational costs and the costs of becoming an exporter. Financing constraints not only affect … of Italian manufacturing firms for the period 1995-2003. Financing constraints reduce the aggregate productivity gains …