Why do firms choose high debt when they anticipate high valuations, and underperform subsequently? We propose a theory …

degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Using data on 3823 firms in 24 … of the credit crunch. However, the composition of capital flows matters a great deal: pre-crisis exposure to non …-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar results also …

when they anticipate high valuations, and underperform subsequently? In this paper, we propose a theory of financing cycles … also suggests that higher anticipated liquidity can tighten credit constraints, instead of alleviating them …

degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Using data on 3823 firms in 24 … of the credit crunch. However, the composition of capital flows matters a great deal: pre-crisis exposure to non …-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar results also …

This paper studies whether the volume and composition of capital flows affect the degree of credit crunch during the … dependence on non-FDI capital inflows before the crisis worsens the credit crunch during the crisis, while exposure to FDI …

We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the … significant effect on the severity of the credit crunch. However, the composition of capital flows matters: pre-crisis exposure to … non-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar …