Financial constraintsPurpose In daily life, consumers usually experience economic limitations on their consumption, which in turn results in experiencing financial constraints. The purpose of this article is to examine how feeling financially constrained influences variety seeking in consumption. Design/...
We find that the effects of financial constraints and debt market conditions on debt-financed share repurchases increase with product market competition. Financially unconstrained firms tend to conduct debt-financed share repurchases when debt market conditions are favourable and when facing intense ...
Financial Constraints on Investment in an Emerging Market Crisis: An Empirical Investigation of Foreign Ownership Financial constraints on Investment in an emerging market crisis: An empirical investigation of foreign ownership, Department of Economics and Manage- ment, ... G Blalock,PJ Gertler,DII ...
In this paper we study the effect of financial constraints on innovation using data from a 2007 survey of more than 10,000 Chilean firms. In contrast with other surveys, this dataset allows for the construction of a direct indicator of constraints on credit for investment in innovation and shed...
financial constraintexport performanceforeign MNC subsidiariesparents-subsidiaries relationshipWe study the causal impact of credit constraints on exporters using a natural experiment provided by two policy changes in India, first in 1998 which made small-scale firms eligible for subsidised direct credit, ...
Financial constraints; Cash policy; Australian firms G31; G32 Abstract We jointly study the impact of financial constraints on Australian companies’ investment decisions and demand for liquidity. By examining a large sample of Australian firms over the period 1990–2003, we find that financial con...
Specifically, we examine the banking industry in Tunisia, in particular the effects of financial liberalization on the efficiency of the Tunisian banking system. Detailed attention is paid to whether or not reforms have unevenly affected banks over time, and how different ownership structure may be ...
The objective of this paper is to analyse the linkage between internalfinance and inventory investment, using a large panel of UK manufacturing firms from 1968 to 1991. Firms are classified into two groups: those more and those less likely to face financial constraints. The estimates of several ...
This study examines the impact of recent financial liberalisation in China on the financing constraints of publicly listed Chinese firms with and without politically connected CEO/Chairman. Two continuous indices are used to measure the evolution and intensity of financial reforms: a financial liberalisati...
Further, depending upon the specific situation, intermediation may reduce volatility by alleviating firms’ cash constraints (Caballero and Krishnamurthy, 2001), by reducing the dependence of financial contracts on borrowers’ net worth (Aghion et al., 1999) and through its effect on the cyclical ...