Keywords
Related Publications
Investment–Cash Flow Sensitivities: Constrained versus Unconstrained Firms
ABSTRACT From the existing literature, it is not clear what effect financing constraints have on the sensitivities of firms' investment to their cash flow. I propose an explanat...
Corporate Behavior in Adjusting to Capital Structure and Dividend Targets: An Econometric Study
ABSTRACT This study of financing decisions by U.S. corporations examines the issuance of long term debt, issuance of short term debt, maintenance of corporate liquidity, issuanc...
Does the Use of Financial Derivatives Affect Earnings Management Decisions?
I present evidence consistent with managers using derivatives and discretionary accruals as partial substitutes for smoothing earnings. Using 1994–1996 data for a sample of Fort...
Three Financing Constraint Hypotheses and Inventory Investment: New Tests With Time and Sectoral Heterogeneity
Over the last decade, research has shown that financing constraints have an important impact on many aspects of firm behavior and aggregate fluctuations. This paper undertakes a...
Financing Constraints and Corporate Investment: Response to Kaplan and Zingales
Kaplan and Zingales (1995, hereafter KZ) criticize Fazzari, Hubbard and Petersen (1988, hereafter FHP) and much ensuing research that uses cross-sectional differences in firm be...
Publication Info
- Year
- 1992
- Type
- preprint
- Citations
- 203
- Access
- Closed