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The response of firms‘ investment and financing to adverse cash flow shocks: the role of bank relationships
Fuss, Catherine; Vermeulen, Philip - 2006
We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of … adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment … shocks. In these periods, firms incur lower cuts in investment expenditures when they can obtain extra credit. In periods of …
Persistent link: https://www.econbiz.de/10011604704
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The Response of Firms' Investment and Financing to Adverse Cash Flow Shocks : The Role of Bank Relationships
Fuss, Catherine - 2010
We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of … adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment … shocks. In these periods, firms incur lower cuts in investment expenditures when they can obtain extra credit. In periods of …
Persistent link: https://www.econbiz.de/10013137278
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The response of firms' investment and financing to adverse cash flow shocks : the role of bank relationships
Fuss, Catherine; Vermeulen, Philip - 2006
Persistent link: https://www.econbiz.de/10003358897
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Credit supply shocks and firm dynamics : evidence from Brazil
Bazzi, Samuel; Muendler, Marc-Andreas; Oliveira, Raquel F. - 2023
We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...
Persistent link: https://www.econbiz.de/10014391287
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Follow the money : methods for identifying consumption and investment responses to a liquidity shock
Karlan, Dean; Osman, Adam; Zinman, Jonathan - 2013
Identifying the impacts of liquidity shocks on spending decisions is difficult methodologically but important for theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results. Borrowers report uses of loan proceeds strategically, and...
Persistent link: https://www.econbiz.de/10010202715
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Firms’ Financial and Real Responses to Credit Supply Shocks : Evidence From Firm-Bank Relationships in Germany
Dwenger, Nadja - 2020
lending, and that their firm customers responded by reducing real investment and employment. We document how different types …
Persistent link: https://www.econbiz.de/10012839598
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Is corporate indebtedness a drag on investment after financial shocks?
Yarba, İbrahim - 2022
Persistent link: https://www.econbiz.de/10013368701
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Corporate Savings, Financing, and Investment with Aggregate Uncertainty Shocks
Chen, Guojun - 2016
This paper investigates how firms manage their cash savings, financing, and investment when aggregate uncertainty is …, investment irreversibility, and time-varying risk premia. In my model, firms have a precautionary-savings motive and real options …
Persistent link: https://www.econbiz.de/10012983559
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Monetary policy surprises and corporate investment growth in China
Jiang, Lunan; Chen, Yinghui; Zhang, Lin - In: Economic modelling 131 (2024), pp. 1-21
Persistent link: https://www.econbiz.de/10014451187
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The response of firms' investment and financing to adverse cash flow shocks : the role of bank relationships
Fuss, Catherine (contributor); Vermeulen, Philip (contributor) - 2006
We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of … adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment … shocks. In these periods, firms incur lower cuts in investment expenditures when they can obtain extra credit. In periods of …
Persistent link: https://www.econbiz.de/10003358619