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Under the auspices of the debate about high performance work systems, it has been suggested that the evidence of positive results is disappointing and that one reason is that there has been a lack of theory. This paper argues that there is indeed a great deal of theory that could be used to...
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This paper studies the long-term consequences on firms and workers of the credit crunch triggered by the 2007-2008 global financial crisis. Relying on a unique matched bank-employer-employee administrative dataset, we construct a firm-specific credit supply shock and examine firms’ and...
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to considerable turmoil in financing and, as a result, to restrictions of firms' access to external financing. Utilizing … this fact, we identify and analyze financing constraints in two ways. First, firm financing constraints are determined via … effect is particularly pronounced for firms that are affected by financing constraints on the firm or bank side. Finally, our …
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This paper tests for the sensitivity of R&D to financing constraints conditional on restrictions in external financing …. Financing constraints of firms are identified by an exogenously calculated rating index. Restrictions in external financing are …-crisis) 2007-2009 (crisis) and 2010-2012 (post-crisis) support the theoretical prediction that financing constraints affect R …
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We utilize a new survey experiment to evaluate the existence and degree of financial constraints for R&D in the economy. The experiment does not only allow to deduct the presence of financial constraints, but also to evaluate their economic significance. Using data on German companies, we find...
Persistent link: https://www.econbiz.de/10012671880