Sales growth is essential for an enterprise's survival and financial growth.If an enterprise manages to achieve sales growth, its expansion can be accomplished. However, does sales growth always have only positive effects?If the enterprise is not collecting enough cash, it can miss a payment on...

Finnish businesses face fewer financial challenges than their European peers. To the extent financial challenges do exist, they disproportionately affect young, small, innovative, internationally focused, and growth-seeking companies. Our findings are based on extensive firm-level data. The data...

Finnish businesses face fewer financial challenges than their European peers. To the extent financial challenges do exist, they disproportionately affect young, small, innovative, internationally focused, and growth-seeking companies. Our findings are based on extensive firm-level data. The data...

This study provides critical observations on the state of key global equity markets as recent developments have put into question their efficiency and effectiveness in facilitating capital formation. It covers the top 26 initial public offering (IPO) producing nations, with a particular focus on...

The primary goal of this paper is to quantify the impact of financing constraints on corporate growth. For this, we use a sample of 1588 firms from the GCC and East Asia during the period 1999-2007. Specifically, we examine the relationships between growth and (1) the availability of internal...

We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises...

This paper investigates the relationship between growth rate and shareholder value creation, using a sample of 243 non-financial Standard and Poor’s 500 (S&P500) companies, which have 22 years of consecutive data available (1993–2014). Sustainable Growth Rate Model (SGR) is used to divide...

We identify a firm's growth type by its valuation volatility which proxies for the extent to which asymmetric information arises from growth opportunities rather than from assets-in-place. We show that firm investment style (measured by R&D/[Capex R&D]) is persistent and positively aligned with...

U.S. financial development varies a good deal over the last half century, primarily increasing since the 1980s. We ask whether this variation had consequences for the real economy. Difference-in-difference tests reveal that increases in financial development have disproportionate effects on...

We find that business cycles drive productive economic churn. During recessions, firms with high previous abnormal investment scale back while firms with low abnormal investment scale up. These findings are consistent with an improvement in investment efficiency over the business cycle. Our...