Using panel data models and two research sub-samples composed of smaller and larger VC-backed, this study seeks to analyze the relationship between investment and internal cash flows. The results indicate that the investment sensitivity to internal cash flows is greater in larger than in the...

Market imperfections, such as those caused by underdeveloped financial and legal systems, are usually considered constraints on a firm's ability to obtain capital.A past study has shown that firms in countries with developed financial institutions and efficient legal systems obtain capital more...

This work investigates how the export status of the firm influences the patterns of growth at different age classes. We address this research question resorting to a novel set of data that links together the universe of Italian firms and detailed data on export transactions. We find that the...