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the degrees of financing constraints and financial intermediary as well as the stock market to represent the level of … financing constraints of R&D investment or not. Finally, the paper further investigates the interaction of financial development …. The results show that the degree of financing constraint is negatively correlated with R&D investment. Both the …
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that stock market liberalization improves corporate investment by relieving financing constraints and restraining …
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The aim of this paper is to investigate whether Brazilian manufacturing firms are credit constrained. We exploit a rich database that contains more than three thousand firms with characteristics that may affect their degree of credit constraint: size, being listed in the Brazilian stock market...
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The study of the investment-cash flow (ICF) sensitivity constitutes one of the largest literatures in corporate finance, yet little is known about changes in the ICF relationship over time, and the literature has largely ignored how rising R&D investment and developments in equity markets have...
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