Ding, Sai; Guariglia, Alessandra; Knight, John - In: Journal of Banking & Finance 37 (2013) 5, pp. 1490-1507
linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by … high working capital display high sensitivities of investment in working capital to cash flow (WKS) and low sensitivities … investment rates. This suggests that an active management of working capital may help firms to alleviate the effects of financing …