Showing 1 - 10 of 2,781
strong evidence that high ICFS-firms have higher financing needs while faced with fewer available financing sources. Our … measure the firm's exposure to financing constraints …
Persistent link: https://www.econbiz.de/10013133693
We examine the interaction between investment and financing policies in a dynamic model for a firm with existing assets …
Persistent link: https://www.econbiz.de/10013028117
This study uses a switching regression framework with known sample separation to analyze the effects of corporate income taxation on investment in case of binding and non-binding financial constraints. By employing two different sample splitting criteria, payout behavior and the ratio of...
Persistent link: https://www.econbiz.de/10009580110
We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates …
Persistent link: https://www.econbiz.de/10011306337
This paper contributes empirically to the ‘Excess Sensitivity' literature by arguing that results obtained by using investment-cash flow sensitivity as a metric to represent finance constraint of firms can be misleading. This is because cash flow apart from signaling change in net worth may...
Persistent link: https://www.econbiz.de/10013132019
-equation model in which firms make interdependent decisions in financing, investment, and distribution, under the constraint that … argue that, instead of focusing on R&D-cash flow sensitivities alone, it is more appropriate to study financing constraints … cash flow shocks than to accommodate positive ones. In addition, I find young and mature firms rely on different financing …
Persistent link: https://www.econbiz.de/10013091799
The purpose of this work is to verify the existence of financial constraints for investment in Brazil, an emerging market with growing international visibility. Using panel data methodology and GMM, we estimate dynamic investment models based on the Euler equation and Tobin's q for a panel...
Persistent link: https://www.econbiz.de/10013064330
This paper addresses whether adopting good governance standards alleviates constraints on financing investment via … and significantly affects investment. Governance, therefore, is a valid mechanism for reducing financing constraints on …
Persistent link: https://www.econbiz.de/10013018378
providing a finer measurement of the financial constraint construct and deeper insight into the relationship between investment …
Persistent link: https://www.econbiz.de/10013021514
concludes that firms suffering from under- (over-) investment problem due to financing constraints (agency problem), are more … study has demonstrated a novel approach by concurrently incorporating the monitoring and financing issues that disturb the … that has the potential to balance the investment distortions by rectifying monitoring and financing deficiencies. …
Persistent link: https://www.econbiz.de/10012174741