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This paper explores the impact of financial constraints on the internationalization strategies of firms. It contributes to the literature by focusing on three aspects: First, the paper studies the impact of financial constraints on exporting relative to FDI. Consistent with theory, the empirical...
Persistent link: https://www.econbiz.de/10008823204
sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack … access to external finance on firms’ choices to export or to engage in FDI. We simultaneously model a firm’s decision to … engage in FDI and in exports, and we assess the importance of financial factors for this choice (the extensive margin) as …
Persistent link: https://www.econbiz.de/10003943667
Macroeconomic risks could magnify individual bank risk. Mitigating the influence of economy-wide risks on banks could therefore be very important to maintain a smooth-running banking system. In this paper, we explore the extent to which macroeconomic risks affect banks. We use a bank-level...
Persistent link: https://www.econbiz.de/10003480917
sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack … access to external finance on firms' choices to export or to engage in FDI. We simultaneously model a firm's decision to … engage in FDI and in exports, and we assess the importance of financial factors for this choice (the extensive margin) as …
Persistent link: https://www.econbiz.de/10010299990
This paper explores the impact of financial constraints on the internationalization strategies of firms. It contributes to the literature by focusing on three aspects: First, the paper studies the impact of financial constraints on exporting relative to FDI. Consistent with theory, the empirical...
Persistent link: https://www.econbiz.de/10010333826
Persistent link: https://www.econbiz.de/10000614273