منابع مشابه
Effects of Managerial Sentiments and Financial Constraints on Investment Sensitivity
Abstract: In the present study, managerial sentiment refers to the pleasant and optimistic feeling of the managers and decision makers in the companies. Optimism can be considered a spiritual state showing ones hope for the future. Talking about a company, it is the manger’s hope for future of the company. Accordingly, the present study examines effects of the managerial optimism on the relati...
متن کاملFinancial Constraints and Exports ∗
My new findings from firm-level surveys show that both a firm’s probability of exporting and a firm’s exporting volume increase with the firm’s age after controlling productivity as well as that both probability of and quantity of export are higher among financially non-constrained firms, after controlling age and productivity. This paper develops a model with credit-constrained, heterogeneous ...
متن کاملOligopolistic Equilibrium and Financial Constraints
In this paper we present a model of oligopoly and financial constraints. We study allocations which are bankruptcy-free (BF) in the sense that no firm can drive another firm to bankruptcy without becoming bankrupt. We show how such allocations can be sustained as an equilibrium of a dynamic game. When there are two firms, all equilibria yield BF allocations. When there are more than two firms, ...
متن کاملFinancial Constraints and Firm Dynamics
The short run effects of financial constraints (FCs) on the expected growth rate of firms and their long-term implications on the evolution of the firm size distribution have been recently investigated by several scholars. In this paper we extend the analysis to a wider and largely unexplored range of possible FCs effects, including the autoregressive and heteroskedastic structure of the firm g...
متن کاملBankers on Boards, Financial Constraints,
We investigate determinants of bankers’ presence on boards of non-financial corporations, factors contributing to their appointments, and bankers’ effect on leverage, investment, and Tobin’s Q following board-appointments. We use a unique data set comprising financially-distressed, undistressed, constrained and unconstrained firms of all asset-sizes. We find banker-board-appointments are positi...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Japan and the World Economy
سال: 2019
ISSN: 0922-1425
DOI: 10.1016/j.japwor.2018.05.001