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structure). We also show that the dynamics of financing matter for the growth path of the firms. …
Persistent link: https://www.econbiz.de/10011564887
This paper aims to analyze the effects of financial constraints and the financial crisis on the financing and investment policies of newly founded firms. Thereby, the analysis adds important new insights on a crucial segment of the economy. We make use of a large and comprehensive data set of...
Persistent link: https://www.econbiz.de/10011772844
growth in SMEs. The authors also analyse firm size and age as explicative variables of small and medium-sized enterprise (SME …) growth. Design/methodology/approach In this paper the data were collected for 3309 SMEs for the period 2010-2019. The authors … certain level of profitability, this determinant positively impacts SME growth. Productivity influences positively the firm …
Persistent link: https://www.econbiz.de/10014506799
test whether firms actively use them to manage their growth. We argue that it is not just the accounts payable but also the …-2009, we show that firms use the trade credit channel to manage growth. In countries where the trade credit channel is more … to manage growth. Finally, we show that also the overall conditions of the financial market matter for the importance of …
Persistent link: https://www.econbiz.de/10011605547
While the relationship between state ownership and firm performance has been widely researched, the empirical evidence has provided mixed results. This study applies panel data regression techniques to 10,639 firm-year observations of non-financial Chinese listed firms during 2003-2010 to...
Persistent link: https://www.econbiz.de/10011936955
Board composition is central to the worldwide corporate governance reforms that have taken place in recent years. The strong emphasis on director independence and board leadership is now part of all corporate governance regimes, including the regimes which has been introduced in Malaysia. It is...
Persistent link: https://www.econbiz.de/10014544599
Information frictions make foreign trade risky. Therefore, many countries offer export credit guarantees that insure export transactions against buyers' default. We investigate the causal effects of guarantees on firm performance. To overcome selection bias, we employ a quasi-experimental design...
Persistent link: https://www.econbiz.de/10012654440
We analyze the ties between 4000 Japanese corporations in the time period from 2004 until 2013. We combine data about the board composition with ownership relationships and indicators of corporate profitability. The board network exhibits some clustering, which can partly be explained by...
Persistent link: https://www.econbiz.de/10014497484
stakeholders of the firm in a way that should foster further economic growth in China. -- International Financial Reporting … Standards ; transparency ; economic growth ; macroeconomic impact ; globalization …
Persistent link: https://www.econbiz.de/10003757004
The study seeks to examine the effect of equity ownership structure on firm financial performance in South Korea. I focus on the role of two main dimensions of the ownership structure: Ownership concentration (i.e., the distribution of shares owned by majority shareholders) and identity of...
Persistent link: https://www.econbiz.de/10003766412