Recessions and financial crisis increase financial constraints and disproportionally affect constrained firms. This paper investigates the differences in firms’ financial constraints between sectors using a cash to cash-flow rationale (Almeida et al., 2004) and a firm specific index of...

Even though innovation subsidies and financial constraints are two closely related lines of research, the link between them is rather unexplored. This paper is, to our knowledge, the first to explicitly analyse both the allocation of innovation subsidies and their role in alleviating firms’...

The recent years have been prolific in terms of development of new measures of firms' financial constraints. This paper surveys the main strategies proposed. Additionally, we discuss the key advantages and disadvantages of each measure as well as the data requirements for implementation....

Recessions and financial crisis increase financial constraints and disproportionally affect constrained firms. This Chapter investigates the differences in firms’ financial constraints between sectors using a cash to cash-flow rationale (Almeida et al., 2004) and a firm specific index of...

The recent years have been prolific in terms of development of new measures of firms’ financial constraints. This paper surveys the main strategies proposed. Additionally, we discuss the key advantages and disadvantages of each measure as well as the data requirements for implementation....

Financial constraints are a key determinant that hinders firms' ability to export. This paper analyses the nexus between these constraints and firms' engagement in international trade, as well as it explores the impact of the European monetary integration process upon firms' financial...

This paper broadly addresses the financing problems of the innovation process, by analysing the extent to which financial constraints hinder firms’ investment in R&D and innovation, as well as investigating the role of public financial support in alleviating such constraints. In order to...

This paper is a survey of recent empirical work on financial constraints faced by firms. It is organized as a series of stylized results which mirror what is generally understood about the severity of financial constraints and the effects that they have upon firms. The review of the literature...

Financial constraints are a determinant factor that hinders firms' ability to carry out their investment growth. This chapter aims at analysing the impact of financial constraints upon Portuguese firms over the period 1996-2004, which covers the implementation and convergence towards the common...