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The pecking order of innovation finance
Mina, Andrea; Lahr, Henry - 2018
This paper examines the relationship between firms' innovation activities and the hierarchy of financing behaviours. We analyse the role of innovation inputs (R&D), intermediate outputs (patents) and outcomes (product and process innovations) as sources of information asymmetry in financing...
Persistent link: https://www.econbiz.de/10011919534
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Excess leverage and productivity growth in emerging economies : is there a threshold effect?
Coricelli, Fabrizio; Driffield, Nigel L.; Pal, Sarmistha; … - 2010
The paper examines the relationship between leverage and growth in a group of emerging central and eastern European … moderate leverage could boost growth while very high leverage could lower it by increasing the likelihood of financial distress … beyond which further increases in leverage could lower TFP growth. -- Excess leverage ; bank efficiency ; market …
Persistent link: https://www.econbiz.de/10003944314
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Working capital management and financing decision : synergetic effect on corporate profitability
Ajibolade, Solabomi O.; Sankay, Oboh Collins - In: International journal of management, economics and … 2 (2013) 4, pp. 233-251
Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate...
Persistent link: https://www.econbiz.de/10010224764
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Why Do Firms Issue Abroad? Lessons from Onshore and Offshore Corporate Bond Finance in Asian Emerging Markets
Mizen, Paul - 2014
Corporate bond issuers in emerging economies in Asia have often had a choice between an onshore market and an offshore one. Since 1998, however, many of these issuers have increasingly turned to the onshore market. This paper investigates systematically what factors have influenced this choice...
Persistent link: https://www.econbiz.de/10013064182
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Working Capital Management and Financing Decision : Synergetic Effect on Corporate Profitability
Ajibolade, Solabomi Omobola - 2013
Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate...
Persistent link: https://www.econbiz.de/10013071720
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How Does Long-Term Finance Affect Economic Volatility?
Demirgüç-Kunt, Asli - 2016
-level growth volatility. We find that firms in industries with stronger preference to use long-term finance relative to short …-term finance experience lower growth volatility in countries with better-developed financial systems, as these firms may benefit … mitigate refinancing risk and therefore growth volatility associated with short-term financing. Increased availability of long …
Persistent link: https://www.econbiz.de/10013000820
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Cash Holdings and the Financialisation of Latin American Nonfinancial Corporations
Rabinovich, Joel - 2020
The growth in cash holdings by non-financial corporations in emerging economies in general and Latin American in …
Persistent link: https://www.econbiz.de/10012841908
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Innovation, asymmetric information and the capital structure of new firms
Taglialatela, Jonathan; Mina, Andrea - 2021
The paper focuses on the capital structure of firms in their early years of operation. Through the lens of Pecking Order Theory, we study how the pursuit of innovation influences the reliance of firms on different types of internal and external finance. Panel analyses of data on 7,394 German...
Persistent link: https://www.econbiz.de/10012654979
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The Pecking Order of Innovation Finance
Mina, Andrea - 2018
This paper examines the relationship between firms' innovation activities and the hierarchy of financing behaviors. We analyse the role of innovation inputs (R&D), intermediate outputs (patents) and outcomes (product and process innovations) as sources of information asymmetry in financing...
Persistent link: https://www.econbiz.de/10012913580
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Finance and Employment in Developing Countries : The Working Capital Channel
Dao, Mai - 2017
We study the effect of external financing constraint on job creation in emerging markets and developing countries (EMDC) at the firm level by looking at a specific transmission channel- the working capital channel. We develop a simple model to illustrate how the need for working capital...
Persistent link: https://www.econbiz.de/10012947827