-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 …

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 …

demonstrates the neutrality properties of the reform with respect to investment, firm financial decisions and organizational choice …. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment …

. These comovements generate large credit risk premia for investment grade firms, which helps address the "credit spread …