This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in …

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 …

In this paper, we present a literature review and classification scheme for investment cash flow sensitivity under … findings. Literature on investment cash flow sensitivity under behavioral corporate finance isn't well developed. In fact, the … explanatory power and they can succeed to explain the dependence of corporate investment on the internal cash flow availability …

Many firms cite financial constraints as some of the most important impediments to their investment and growth. Using a …

A large discrepancy exists on the use of the investment–cash flow sensitivity as a measure of financing constraints of … shows a positive investment-cash flow sensitivity for business group affiliated firms and negative investment cash flow … sensitivity for non-group affiliated firms. Additional tests accordingly express that investment-cash flow sensitivity of …

Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is … the investment cash flow sensitivity among panel data of American industrial firms during 1999-2010. Using Q-model of … investment (Tobin, 1969), we construct and introduce a proxy of managerial optimism following Malmendier and Tate (2005a) to show …

We contribute to the financial constraints literature and the investment-cash flow sensitivity debate by defining a new …-level employment growth as a control for investment opportunities, we find that constrained firms display the highest investment …