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Investment and Finance in De Novo Private Firms: Empiracal Results from the Czech Republic, Hungary and Poland
Bratkowski, Andrzej; Grosfeld, Irena; Rostowski, Jacek - 1999
capital markets in Central European economies do not seem to actually inhibit the growth of Central European transition … transition economies studied, but they provide quite a large amount of financing and do so from a remarkably early stage of the …
Persistent link: https://www.econbiz.de/10009477534
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WHILE LABOUR HOARDING MAY BE OVER, INSIDERS’ CONTROL IS NOT. DETERMINANTS OF EMPLOYMENT GROWTH IN POLISH LARGE FIRMS, 1996-2001.
Bishop, Kate; Mickiewicz, Tomasz - 2003
. Furthermore, unlike the early transition period, we can confirm that employment adjusts to positive sales growth, not just to …This paper examines the determinants of employment changes using a panel of Polish large firms during the period 1996 …-2001. We investigate the impact of wages, output growth, investment, firm size and sectors upon employment, focusing on the …
Persistent link: https://www.econbiz.de/10009477227
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The Aggregate Dynamics of Capital Structure and Macroeconomic Risk
Bhamra, Harjoat S.; Kuehn, Lars-Alexander; Strebulaev, … - 2008
We study the impact of time-varying macroeconomic conditions on optimal dynamic capital structure and the aggregate dynamics of firms in a cross-section. Our structural-equilibrium framework embeds a contingent-claim corporate financing model within a standard consumption-based asset- pricing...
Persistent link: https://www.econbiz.de/10009441273
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Financial constraints, the distribution of wealth and international trade
Amissah, Emmanuel; Bougheas, Spiros; Falvey, Rodney - 2010
Extract: As the Heckscher-Ohlin-Mundell paradigm predicts, in a world where capital markets are perfect and production exhibits constant-returns to scale, while aggregate wealth endowments can be an important source of comparative advantage, their internal distribution does not matter for the...
Persistent link: https://www.econbiz.de/10009441617
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Cash Holdings of Hotel Firms: The Financial Constraints Perspective
Koh, Jung Hwan; Jang, SooCheong - 2011
Financial literature of cash or liquidity management has recently focused on the role of financial constraints on firms’ liquidity decision. Even though the accessibility to capital market is considered as one of major topics in hotel firms’ financial management considering high usage of...
Persistent link: https://www.econbiz.de/10009468107
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Ownership Characteristics and Access to Finance: Evidence from a Survey of Large Privatised Companies in Hungary and Poland
Isachenkova, Natalia; Mickiewicz, Tomasz - 2004
We examine financial constraints and forms of finance used for investment, by analysing survey data on 157 large privatised companies in Hungary and Poland for the period 1998 – 2000. The Bayesian analysis using Gibbs sampling is carried out to obtain inferences about the sample companies’...
Persistent link: https://www.econbiz.de/10009476697
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Investment Financing in Russian Financial-Industrial Groups
Perotti, Enrico C.; Gelfer, Stanislav - 1998
We study whether Russian Financial-Industrial Groups facilitate access by Russian firms to investment finance. We compare firms which are members of official Financial Industrial Groups and/or are owned by a large Russian bank with a control set of large firms categorized by dispersed ownership...
Persistent link: https://www.econbiz.de/10009477477
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Sorting, Selection, and Transformation of the Return to College Education In China
Fleisher, Belton M.; Li, Haizheng; Li, Shi; Wang, Xiaojun - 2000
We estimate selection and sorting effects on the evolution of the private return to schooling for college graduates during China’s reform between 1988 and 2002. We pay special attention to the changing role of sorting by ability versus budget-constraint effects as China’s education policy...
Persistent link: https://www.econbiz.de/10009477535
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No bank, one bank, several banks : does it matter for investment?
Karaivanov, Alexander; Ruano Pardo, Sonia; Saurina … - 2010
This paper examines whether financial constraints affect firms’ investment decisions for older (larger) firms. We compare a group of unbanked firms to firms that rely on formal financing. Specifically, we combine data from the Spanish Mercantile Registry and the Bank of Spain Credit Registry...
Persistent link: https://www.econbiz.de/10012530292
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Firm Ownership and Internal Labor Practices in a Transition Economy: An Exploration of Worker Skill Acquisition in Vietnam
Friedman, Jed - 2004
One feature common to many post-socialist transition economies is a relatively compressed wage structure in the state … acquisition and thus presents adverse consequences for the entire transition economy if a substantial portion of the labor force … outcomes, in a transition setting with matched firm and worker data collected in one of the largest provinces of Vietnam – Ho …
Persistent link: https://www.econbiz.de/10009476682