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Private Investment and Cash Flow Relationship Revisited: Capital Market Imperfections and Financialization of Real Sectors in Emerging Markets
Demir, Firat - Volkswirtschaftliche Fakultät, … - 2007
investment spending in the presence of multiple investment options. It is argued that after financial liberalization real sector … investment projects. The empirical results using firm level data for Mexico and Turkey confirm this hypothesis and suggest that … profits from fixed and financial assets have differential effects on fixed investment spending. …
Persistent link: https://www.econbiz.de/10005789670
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The effect of debt tax benefits on firm investment decisions
Addessi, William; Saltari, Enrico - Volkswirtschaftliche Fakultät, … - 2011
firm investment. We analyze the investment decision in presence of a borrowing constraint on the amount of the debt that … deduction of the debt interest from taxes on capital income may reduce firm investment. This theoretical result should be …
Persistent link: https://www.econbiz.de/10009644918
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Relationship Lending and Financing Constraints: Firm-Level Evidence for India
Ghosh, Saibal - Volkswirtschaftliche Fakultät, … - 2007
cash and its equivalents even in the presence of potential investment opportunities. This suggests that establishing a …
Persistent link: https://www.econbiz.de/10008611589
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Are listed Indian firms finance constrained: Evidence for 1991-92 to 1997-98
Bagchi, A. K.; Das, Pranab Kumar; Moitra, B. - Volkswirtschaftliche Fakultät, … - 2002
found that the firms with medium dividend pay-out ratios are constrained in the loans market so far as investment in fixed …
Persistent link: https://www.econbiz.de/10011110688
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Taxing Externalities under Financing Constraints
Hoffmann, Florian; Inderst, Roman; Moslener, Ulf - Volkswirtschaftliche Fakultät, … - 2013
We consider an economy where production generates externalities, which can be reduced by additional firm level expenditures. This requires firms to raise outside financing, leading to deadweight loss due to a standard agency problem vis-à-vis outside investors. Policy is constrained as firms...
Persistent link: https://www.econbiz.de/10011108991
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Financial liberalization, financing constraints and political connection: evidence from Chinese firms
Yan, Isabel K.; Chan, Kenneth S.; Dang, Vinh Q.T. - Volkswirtschaftliche Fakultät, … - 2011
This paper examines the impact of recent financial liberalization in China on the financing constraints of publicly-listed Chinese firms with and without politically-connected CEO/Chairman. Two continuous indices are used to measure the evolution and intensity of financial reforms: a financial...
Persistent link: https://www.econbiz.de/10009369175
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Chinese Firms’ Political Connection, Ownership, and Financing Constraints
Yan, Isabel K.; Chan, Kenneth S.; Dang, Vinh Q.T. - Volkswirtschaftliche Fakultät, … - 2011
We empirically examine some listed Chinese firms’ political connection, ownership, and financing constraints. Politically-connected firms display no financing constraints whereas firms without connection experience significant constraints. Non-connected family-controlled firms bear greater...
Persistent link: https://www.econbiz.de/10009369179
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Financial liberalization and financing constraints: some evidence from panel data of listed Chinese firms
Yan, Isabel K.; Chan, Kenneth S.; Dang, Vinh Q.T. - Volkswirtschaftliche Fakultät, … - 2011
This paper examines the impact of recent financial liberalization in China on the financing constraints and investment … firms’ financing constraints in an Euler-equation investment model. The results indicate that while smaller firms face …
Persistent link: https://www.econbiz.de/10009369185
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Small is Beautiful but Size Matters: The Asymmetric Impact of Uncertainty and Sunk Costs on Small and Large Businesses
Ghosal, Vivek - Volkswirtschaftliche Fakultät, … - 2007
Against the backdrop of the theories developed in the real options and financing constraints literatures, this paper examines the impact of profit uncertainty and sunk costs on firms’ entry and exit decisions. For our empirical analysis, we compile an extensive dataset containing information...
Persistent link: https://www.econbiz.de/10005260323
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Stochastic frontier models
Wang, Hung-Jen - Volkswirtschaftliche Fakultät, … - 2006
observed outcome (of wages, investment, and so on) is modelled as being deviating from a frontier level in one direction owing …
Persistent link: https://www.econbiz.de/10009025317