We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a …, as firms with poor investment and growth opportunities may have a higher probability of being credit constrained. We … implement several strategies to overcome this obstacle: proxies for investment opportunities, lagged regressors, random effects …

exploiting the discontinuity in the assignment of a welfare program in Mexico. The in-cash transfer is found to significantly …

The interpretation of the significant relation between business investment spending and cash flow has been … controversial. A large body of research has found that investment/cash flow sensitivities are higher for financially constrained … with the Kaplan and Zingales critique, investment/cash flow sensitivities are lower for financially constrained firms. This …

rate and credit channels on business fixed investment in the German manufacturing sector. Our panel of financial statements … interest rates by 100 basis points would depress investment demand by almost 4% within the first year. Using our direct measure … demand. Furthermore, changes in the rating of firms seem to affect investment demand in a way that is consistent with the …