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Strapped for Cash : The Role of Financial Constraints for Innovating Firms
Bøler, Esther Ann; Moxnes, Andreas; Ulltveit-Moe, … - 2023
of collateral constraints and to quantify the aggregate impact of these constraints on misallocation and productivity …This paper makes use of a reform that allowed firms to use patents as stand-alone collateral, to estimate the magnitude …. The gains are primarily driven by capital deepening, whereas within-industry misallocation plays a smaller role …
Persistent link: https://www.econbiz.de/10014358651
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Credit Supply Shocks and Firm Dynamics: Evidence from Brazil
Bazzi, Samuel; Muendler, Marc-Andreas; Oliveira, Raquel F. - 2023
We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...
Persistent link: https://www.econbiz.de/10014469828
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What if Firms Could Borrow More? Evidence from a Natural Experiment
Brown, James R.; Martinsson, Gustav; Thomann, Christian - 2015
We study the effects of a unique lending program initiated by the Swedish government at the height of the financial crisis that allowed firms to suspend payment of all labor-related taxes and fees. Comprehensive administrative data on all Swedish firms show that firms borrowing from the program...
Persistent link: https://www.econbiz.de/10011307119
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Do Multinationals Transfer Culture? Evidence on Female Employment in China
Tang, Heiwai; Zhang, Yifan - 2017
productivity, gender biases, and learning, we perform counterfactual exercises. Hypothetically eliminating firms’ gender biases … raises China’s aggregate total factor productivity by 5%, of which spillovers from multinationals account for 19%. …
Persistent link: https://www.econbiz.de/10011615850
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When Arm's Length Is Too Far. Relationship Banking over the Business Cycle
Beck, Thorsten; Degryse, Hans; de Haas, Ralph; van … - 2014
Using a novel way to identify relationship and transaction banks, we study how banks' lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms' credit constraints at two...
Persistent link: https://www.econbiz.de/10010398626
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All You Need Is Cash: Corporate Cash Holdings and Investment after the Global Financial Crisis
Joseph, Andreas; Kneer, Christiane; van Horen, Neeltje - 2021
Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave...
Persistent link: https://www.econbiz.de/10012582116
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Let's Switch to the Cloud: Cloud Adoption and Its Effect on IT Investment and Productivity
Duso, Tomaso; Schiersch, Alexander - 2022
, cloud usage is expected to increase the productivity of firms, as it allows them to quickly customize the IT they require to … IT investment in any sectors, it does significantly improve labor productivity for firms in manufacturing and in …
Persistent link: https://www.econbiz.de/10013427730
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Procuring Survival
Cappelletti, Matilde; Giuffrida, Leonardo M.; … - 2022
impactful for survival prospects. Survivors experience no productivity premium but rather an improvement in their credit …
Persistent link: https://www.econbiz.de/10014290034
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Let's Switch to the Cloud : Cloud Adoption and Its Effect on IT Investment and Productivity
Duso, Tomaso; Schiersch, Alexander - 2022
, cloud usage is expected to increase the productivity of firms, as it allows them to quickly customize the IT they require to … IT investment in any sectors, it does significantly improve labor productivity for firms in manufacturing and in …
Persistent link: https://www.econbiz.de/10014076705
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Credit Constraints, Quality, and Export Prices: Theory and Evidence from China
Fan, Haichao; Lai, Edwin L.-C.; Li, Yao Amber - 2013
This paper examines the relationship between the credit constraints faced by a firm and the unit value prices of its exports. The paper modifies Arkolakis's (2010) model of trade with heterogeneous firms by introducing endogenous quality and credit constraints. The model predicts that tighter...
Persistent link: https://www.econbiz.de/10010319388