Relevant bibliographies by topics / Financial constraints

Contents

  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Academic literature on the topic 'Financial constraints'

Author: Grafiati
Published: 4 June 2021
Last updated: 1 June 2024

Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles

Select a source type:

Consult the lists of relevant articles, books, theses, conference reports, and other scholarly sources on the topic 'Financial constraints.'

Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.

You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.

Journal articles on the topic "Financial constraints"

1

Fan, Yafeng, Jing Jiang, and Zuohao Hu. "More or less? The effects of financial constraints on variety-seeking behavior." Journal of Contemporary Marketing Science 3, no. 2 (July 6, 2020): 195–205. http://dx.doi.org/10.1108/jcmars-01-2020-0004.

Full text
Abstract:
PurposeIn 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/methodology/approachThe authors conducted three experiments to test the proposed hypotheses by applying multiple methods of manipulation of financial constraints and different measures of variety seeking.FindingsThe authors found that feeling financially constrained increases consumers’ insecurity, which in turn decreases their variety-seeking behavior. Additionally, the authors noted that individuals’ positive illusion could moderate the aforementioned effect. The negative effect of financial constraints on variety seeking only existed among consumers with a low positive illusion.Practical implicationsThe findings in this article could help marketers attain a better understanding of consumers’ choices under financial constraints and could help retailers optimize their product lines and distribution.Originality/valueThis research marks the first attempt to examine the relationship between financial constraint and variety seeking. The findings make for a valuable addition to both the financial constraint and variety-seeking literature reviews. The research study also extends the literature on how insecurity and positive illusion influence individuals’ decisions in the consumption context.
APA, Harvard, Vancouver, ISO, and other styles
2

Bhaduri, Saumitra N. "Investment and Capital Market Imperfections: Some Evidence from a Developing Economy, India." Review of Pacific Basin Financial Markets and Policies 11, no. 03 (September 2008): 411–28. http://dx.doi.org/10.1142/s0219091508001416.

Full text
Abstract:
This paper presents a switching regression model of investment decision where the probability of a firm facing financial constraint is endogenously determined. The approach, therefore, obviates the use of a priori criteria to exogenously identify the financially constrained firms, and thereby addresses the potential misclassification problem faced in the existing literature. A sample of 576 Indian manufacturing firms, collected across 15 broad industries is used for this study. The study establishes that financially constrained firms exhibit a much higher investment-cash flow sensitivity than those identified to be unconstrained. It also probes into the possible determinants of financial constraints, and finds empirical support for its hypothesis that young, liquidity constrained and low dividend payout firms are more likely to face financial constraints, when compared to their respective counterparts. This paper also provides some insight into the impact of the ongoing liberalization program on the financial constraints faced by the Indian firms.
APA, Harvard, Vancouver, ISO, and other styles
3

Osinubi, Igbekele Sunday. "Effects of financial distress and financing constraints on trade credit provisions." Asian Review of Accounting 28, no. 4 (August 18, 2020): 545–66. http://dx.doi.org/10.1108/ara-04-2020-0058.

Full text
Abstract:
PurposeExisting studies that documented the effect of financial distress on trade credit provisions did not include measures financial constraint. It is possible that financial distress is tie to financial constraints, and both financial distress and financial constraints mutually reinforce each other in their effects on trade credit provision. The purpose of this study is to evaluate the effects of financial constraint and financial distress on trade credit provisions in the UK FTSE 350 listed firms.Design/methodology/approachThis study employs panel data in the estimation of the determinants of accounts payables and accounts receivables of the UK FTSE 350 firms from 2009 to 2017.FindingsThis study finds that financial distress has significant positive effect on accounts payables and a significant negative effect on accounts receivables. Financial constraints have significant negative effect on accounts payables and a significant positive effect on accounts receivables.Practical implicationsTrade creditor desiring to maintain an enduring product-market relationship grant more concessions to customer in financial distress. The amount of trade credit that sellers provide to financially constrained firm is an increasing function of the buyer's creditworthiness. The urgent cash needs of financially distressed firms lead them to sell trade receivables to factoring company leading to reduction in trade receivables. Firm facing external financing constraints increase trade credit to customers in anticipation of cash flow inflow to enhance liquidity.Originality/valueThis study shows that financial distress and financial constraints mutually reinforce each other in their effects on trade credit provisions, and firm's financing condition contributes to divergence in trade credit policies.
APA, Harvard, Vancouver, ISO, and other styles
4

Lima Crisóstomo, Vicente, Félix Javier López Iturriaga, and Eleuterio Vallelado González. "Financial constraints for investment in Brazil." International Journal of Managerial Finance 10, no. 1 (January 28, 2014): 73–92. http://dx.doi.org/10.1108/ijmf-11-2012-0121.

Full text
Abstract:
Purpose – The purpose of this paper is to verify the existence of financial constraints for investment in Brazil, an emerging market with growing international visibility. Design/methodology/approach – Using panel data methodology and generalized method of moments (GMM), the paper estimates dynamic investment models based on the Euler equation and Tobin's q for a panel data set of 199 Brazilian non-financial firms for the time period 1995-2006. Findings – Results show that Brazilian firms face financial constraints since their investments depend on internally generated funds. Results are robust to different investment models based on the Euler equation, also controlling for growth opportunities. Significant investment-cash flow sensitivity has been found for the whole sample of firms. Subsamples of firms considered as under financial constraints, according to dividend payout and equity issuance policies, have higher investment-cash flow sensitivity. Investment-cash flow sensitivity of financially constrained firms in Brazil is higher than that in the UK and in Romania, a transition economy. Originality/value – The results extend empirical evidence of financial constraints in Brazil. The paper contributes to the literature by assessing the firms’ financial constraint status on an annual basis, and by using panel data methodology and GMM to estimate dynamic models of investment that take into account the proposals of the hierarchy of finance theory. In addition, the paper controls for growth opportunities. Capital market imperfections affect firm investment in Brazil and such effects are even stronger for financially constrained firms.
APA, Harvard, Vancouver, ISO, and other styles
5

Edjigu, Habtamu Tesfaye, and Nicholas Sim. "Does the Presence of Foreign Firms Reduce Domestic Firms’ Financial Constraints in Sub-Saharan Africa?†." Journal of African Economies 28, no. 4 (February 26, 2019): 343–70. http://dx.doi.org/10.1093/jae/ejz001.

Full text
Abstract:
Abstract Firms in the SSAs (sub-Saharan African countries for short) face severe financial constraints. Because financial markets in the SSAs are underdeveloped, policymakers have sought after the establishment of foreign-owned firms in their countries to help, among others, alleviate the financial constraints faced by domestic firms. However, there is no empirical evidence that speaks to the association between foreign firm presence and domestic firms’ financial constraint. Using firm-level data spanning across 36 SSAs from the World Bank Enterprise Survey, we show that the increase in foreign firm presence can ease the financial constraints of domestic firms in the SSAs. One reason is that foreign-owned firms are not only less financially constrained, they are also less likely to apply for bank loans. Therefore, an increase in foreign firm presence may reduce the competition for loans and ease the financial constraints of domestic firms by improving their borrowing success.
APA, Harvard, Vancouver, ISO, and other styles
6

Bodnaruk, Andriy, Tim Loughran, and Bill McDonald. "Using 10-K Text to Gauge Financial Constraints." Journal of Financial and Quantitative Analysis 50, no. 4 (August 2015): 623–46. http://dx.doi.org/10.1017/s0022109015000411.

Full text
Abstract:
AbstractMeasuring the extent to which a firm is financially constrained is critical in assessing capital structure. Extant measures of financial constraints focus on macro firm characteristics such as age and size, variables highly correlated with other firm attributes. We parse 10-K disclosures filed with the U.S. Securities and Exchange Commission (SEC) using a unique lexicon based on constraining words. We find that the frequency of constraining words exhibits very low correlation with traditional measures of financial constraints and predicts subsequent liquidity events, such as dividend omissions or increases, equity recycling, and underfunded pensions, better than widely used financial constraint indexes.
APA, Harvard, Vancouver, ISO, and other styles
7

Du, Lixia, and Baiyang Geng. "Financial technology and financing constraints." Finance Research Letters 60 (February 2024): 104841. http://dx.doi.org/10.1016/j.frl.2023.104841.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Wale, Letenah Ejigu. "Investment Cash Flow Sensitivity as a Measure of Financing Constraints: Evidence from Selected African Countries." Journal of Economics and Behavioral Studies 6, no. 8 (August 30, 2014): 647–57. http://dx.doi.org/10.22610/jebs.v6i8.525.

Full text
Abstract:
The use of investment cash flow sensitivity as a measure of financing constraints is an unresolved research agenda. This paper endeavors to explain the conflicting evidence by using proxies for both internal financial constraint and external financial constraint measures. Data is taken from selected six African countries, a region where no previous studies are conducted. It is observed that the investment curve is Ushaped when firms are classified on the basis of internal financial constraint measure (i.e. cash flow). Using external financial constraint proxies (age, size and payout) it is found that all category of firms show positive and significant investment cash flow sensitivity. This suggests that the sampled African firms are externally financial constrained. It is concluded that the way firms are a priori classified as internal vs. external financial constrained matters. This raises the issue of whether the term financial constraints itself is a multidimensional construct.
APA, Harvard, Vancouver, ISO, and other styles
9

Farre-Mensa, Joan, and Alexander Ljungqvist. "Do Measures of Financial Constraints Measure Financial Constraints?" Review of Financial Studies 29, no. 2 (September 3, 2015): 271–308. http://dx.doi.org/10.1093/rfs/hhv052.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Laeven, Luc. "Does Financial Liberalization Reduce Financing Constraints?" Financial Management 32, no. 1 (2003): 5. http://dx.doi.org/10.2307/3666202.

Full text
APA, Harvard, Vancouver, ISO, and other styles
More sources

Dissertations / Theses on the topic "Financial constraints"

1

Miao, Meng. "Financial constraints in emerging markets." Thesis, University of Oxford, 2015. http://ora.ox.ac.uk/objects/uuid:aaf1fe1c-660b-4514-a3e0-f466ec825438.

Full text
Abstract:
In this thesis I explore two factors that impose constraints for external finance of firms in Emerging market, the lack of property rights protection and the absence of political connections. I demonstrates that strengthening of property rights protection and sustaining tighter political connection is beneficial for firms external finance.
APA, Harvard, Vancouver, ISO, and other styles
2

Thisadoldilok, Chatchai. "Form of ownership and financial constraints." Bangkok, Thailand : Faculty of Economics, Thammasat University, 2004. http://catalog.hathitrust.org/api/volumes/oclc/56680669.html.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Wiegand, Manuel. "Credit constraints during the financial crisis." Diss., Ludwig-Maximilians-Universität München, 2014. http://nbn-resolving.de/urn:nbn:de:bvb:19-182544.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Macoris, Lucas Serrão. "Do minority acquisitions relieve financial constraints?" Universidade de São Paulo, 2018. http://www.teses.usp.br/teses/disponiveis/18/18157/tde-22102018-095334/.

Full text
Abstract:
This study intends to examine the occurrence and effectiveness of minority block transactions in the presence of financial constraints in target firms. Minority transactions represent a strategic decision with specific characteristics if compared to the various forms of integration. In fact, several authors claim that minority block transactions may represent an alternative to alleviate financial constraints. However, there are still few studies that empirically address the relationship between financial constraints and the occurrence of such transactions. More specifically, there is no empirical evidence that states that minority transactions actually ease targets\' financial restrictions and foster corporate investment. Using a panel composed of approximately 12.000 deals, results show a positive relationship between the presence of financial constraints in target firms and the occurrence of minority transactions. Moreover, there is a significant difference between on the growth of investment and leverage indicators of target firms\' related to its counterfactuals after deal completion, indicating the effectiveness of minority transactions in alleviating such companies\' restrictions.
Este trabalho pretende examinar a ocorrência e a efetividade de transações minoritárias de participação na presença de restrições financeiras nas empresas alvo. Transações minoritárias em empresas representam uma decisão estratégica com características peculiares em relação aos diversos tipos de integração empresarial. De fato, diversos autores afirmam que transações de partes minoritárias de empresas podem representar uma alternativa para aliviar restrições financeiras. No entanto, ainda existem poucos estudos que analisam empiricamente a relação entre restrições financeiras e a ocorrência de tais transações. Mais especificamente, não há evidência empírica que afirme de fato que compras minoritárias de participações em empresas podem aliviar suas restrições financeiras ao investimento. Utilizando um painel composto de aproximadamente doze mil transações minoritárias feitas entre adquirentes americanos e alvos internacionais, os resultados demonstram uma relação positiva entre a presença de restrições financeiras ao investimento em empresas e a ocorrência de transações minoritárias. Adicionalmente, há uma diferença significativa entre os indicadores de crescimento e alavancagem das firmas alvo em relação aos seus contrafactuais após o período da transação, indicando a efetividade dos processos de transações minoritárias em relaxar as restrições financeiras das empresas.
APA, Harvard, Vancouver, ISO, and other styles
5

Kasseeah, Harshana. "Financing decisions and financial constraints : evidence from the UK and China." Thesis, University of Nottingham, 2008. http://eprints.nottingham.ac.uk/10523/.

Full text
Abstract:
Firms are the engines of growth in any economy. It is therefore important to study how they finance themselves, as this may have a direct impact on the overall growth rate of the economy. A firm can choose whether to finance its activities with equity, debt, or both. An optimal capital structure is that mix of internal and external finance (debt and/or equity) that optimizes the value of a firm. Therefore, the question of how to finance or equivalently from where to borrow becomes a crucial decision. In each chapter of this study, we study the financing decisions of a different set of firms faced with financial constraints. The two countries we focus on are the UK and China. Our study examines two types of firms in the UK. We first study listed firms and examine how financial constraints affect their leverage decisions. Next, we focus on the financing decisions of small and medium-sized enterprises (SMEs), as these firms are more likely to suffer from financial constraints. To examine financial constraints, we use both conventionally used indicators of financial constraints and new indicators. Our study on China is mainly based on listed manufacturing Chinese firms. China is currently the largest developing and transition economy in the world. It is interesting to study the financing behaviour of manufacturing firms in China as manufacturing is believed to be the main engine behind the Chinese growth miracle. We account for factors specific to the Chinese case to determine if the leverage decisions of Chinese firms are similar to those of firms in other parts of the world. We also examine the cash holding decisions of Chinese firms as these firms seem to be highly financially conservative. Our results indicate that firms tend to follow a financial hierarchy in their financing patters and that the preferred source of external finance of most firms, whether in the UK or China, remains leverage. However firms tend to reduce their leverage when they experience an increase in their internal funds, which points towards a financially conservative behaviour. This needs to be accounted for in policy decisions that are mainly formulated on the supply side.
APA, Harvard, Vancouver, ISO, and other styles
6

Ugarte, Ruiz Alfonso. "Investment, perception of risk and financial constraints." Doctoral thesis, Universitat Pompeu Fabra, 2011. http://hdl.handle.net/10803/22670.

Full text
Abstract:
This thesis studies how firms’ investment and credit are affected by different financial imperfections related to firm and bank learning, relationship lending and financial wealth. After reviewing in chapter 2 the related literature, in chapter 3 I investigate the main determinants of different types of financial constraints, such as credit rationing and excessive cost of debt, by constructing new measures of these problems based on qualitative data. I then develop in chapter 4 a model of firm investment with financial constraints and Bayesian learning that provides a new framework to analyze the problem of asymmetric learning between a bank and a firm and its effect on a firm’s investment decision. This model is used to investigate, theoretically and empirically, the relationship between firms’ investment and internal funds in the presence of limited information, learning and bankruptcy costs, providing new arguments to support a ushaped curve theory of investment and internal funds. Finally, in chapter 5 this model is used to analyze how relationship lending affects the evolution of interest rates during the life cycle of firms.
Esta tesis estudia cómo la inversión y el crédito están afectados por diferentes imperfecciones financieras relacionadas con el aprendizaje, las relaciones de crédito y la riqueza financiera. Luego de revisar la literatura relacionada, en el Capítulo 3 se investiga los principales determinantes de distintas restricciones financieras relacionadas con el acceso y las condiciones del crédito, mediante la construcción de nuevos indicadores de estos problemas. Luego, en el Capítulo 4 se desarrolla un modelo de inversión con restricciones financieras y aprendizaje Bayesiano que provee un nuevo marco para analizar el problema del aprendizaje asimétrico entre un banco y una firma y su efecto en las decisiones de inversión de esta última. Dicho modelo es utilizado para investigar de forma teórica y empírica la relación entre la inversión y los recursos propios en la presencia de información asimétrica, aprendizaje y costes de quiebra, obteniendo nuevos argumentos para apoyar la teoría de una relación en forma de U entre la inversión y los recursos propios. Finalmente, en el Capítulo 5 se estudia como una relación de crédito afecta la evolución de los tipos de interés durante el ciclo de vida de las firmas.
APA, Harvard, Vancouver, ISO, and other styles
7

Yue, Feng. "Financial constraints and firms’ activities in China." Thesis, Durham University, 2011. http://etheses.dur.ac.uk/1407/.

Full text
Abstract:
The understanding the effects of financial constraints and firms’ activities is an important issue from both macroeconomics and microeconomics perspectives. The recent development of the asymmetric information approach has established a link between finance and the real activity. A good understanding of the effects of financial constraints and firms’ activities would provide valuable information about the mechanism through which monetary policy affects real economic activities and the understanding of the macroeconomic dynamics. From a microeconomics perspective, the study of the effects of financial constraints also contributes to the understating of firms’ corporate finance behaviors and the importance of firm heterogeneity in firms’ activities. This research uses two large samples of firm-level panel data from China to study the effects of financial constraints on three key firm activities. First, using an Euler equation investment model, we empirically study the effects of financial constraints on firms’ fixed investment in China over the period 1998-2005. We find strong evidence indicating there is a “lending bias” at work. Where the state-owned enterprises and collectively owned enterprises are less financially constrained that privately owned firms. The evidence also suggests that listed firms are more financially constrained than unlisted firms. Moreover, the results indicate that the presence of foreign ownership helps to reduce the level of financial constraints faced by firms. Second, we use an error correction model augmented with cash flow to test the effects of financial constraints on firms’ inventory investment in China with emphasis on the firm heterogeneity. We find that cash flow is an important determinant for inventory investment of privately owned firms, foreign owned firms, firms with no political affiliations to the central or local governments. The result also suggests that the level of financial constraints faced by firms increased over the study period. Last, we test whether there is a link between financial factors and firms’ export decisions in China. We find that firms’ liquidity and leverage levels are important determinants of firm’s exports participation decisions, where the effects are strongest for privately owned firms. When we focus on the exports participation decision of the private firms, we find financial factors are particular important for firms that are smaller, younger and with no political affiliations.
APA, Harvard, Vancouver, ISO, and other styles
8

Hawkins, Penelope Anne. "Financial constraints and the small open economy." Thesis, University of Stirling, 2000. http://hdl.handle.net/1893/21628.

Full text
Abstract:
The thesis develops a new model of the small open economy emphasizing financial constraints, based on the notion of liquidity preference as a constraining tendency on the income adjustment process. Preference for liquid assets results in a number of financial states of constraint, such as financial vulnerability, financial exclusion and financial fragility. These are explored in a regional and international context. Openness brings with it new opportunity as well as potential constraints. Models of small open economies have in general assumed away the latter and have neglected the consequences of financial openness. This is reflected in the absence of a means to identify economies as small and open on the basis of their financial exposure. The financial vulnerability index is developed to address this deficit. Applied to twenty-one countries, the index reveals that emerging countries can be classified as small open economies constrained by preference for liquid assets. Policies designed with the conventional approach to constraints in mind appear to be inappropriate for these countries. The concept of constraints has rarely been dealt with explicitly and a possible categorisation of constraints for mainstream and Post Keynesian schools is developed. It proves to be a useful point of entry for grasping ontological differences between schools. It also provides insights into the constraining tendencies facing the small open economy, and how they can be managed. When these insights are applied to the South African economy, the current macroeconomic policy, and critiques thereof, are found to be wanting.
APA, Harvard, Vancouver, ISO, and other styles
9

Macchiavello, Rocco. "Financial constraints, industry structure and firm's boundaries." Thesis, London School of Economics and Political Science (University of London), 2007. http://etheses.lse.ac.uk/1976/.

Full text
Abstract:
The first part of this Thesis analyzes the impact of financial constraints (FC) on industrial structure. Chapter 1 presents a model that disentangles several effects of FC on entry, turnover, productivity and firms size distribution. The framework is applied in Chapter 2 which develops an industry equilibrium model of vertical integration under contractual imperfections with specific input suppliers and external investors. I assume that vertical integration economizes on the needs for contracts with specific input suppliers at the cost of higher financial requirements. I show that the two forms of contractual imperfections have different effects on the degree of vertical integration, and that contractual frictions with external investors affect vertical integration through two opposing channels: a direct negative, investment, effect and an indirect positive, entry, effect. Using cross-country- industry data, I present novel evidence on the institutional determinants of international differences in vertical integration which is consistent with the predictions of the theoretical model. In particular, I show' that countries with more developed financial systems are relatively more vertically integrated in industries that are dominated by large firms. The second part (Chapter 3) asks whether vertical integration reduces or increases transaction costs with external investors. I build a model in which a seller produces a good that can be used by a buyer, or sold on a spot market. The buyer and the seller have no cash, need to finance investments for production, and can not foresee in advance whether the input is most efficiently traded on the spot market or among each other. I assume that ownership of physical assets gives control over contracting rights to those assets, that financial streams get transferred with ownership and that returns can not be perfectly verified. The net balance of the costs and benefits of integration in terms of pledgeable income depends on the relative intensities of a positive "profits-pooling" effect against a negative "de-monitoring" effect. I find that larger projects, more specific assets, and low' investors protection are determinants of vertical integration. I discuss joint liability contracts between non integrated firms and how contractual externalities among investors favor integration.
APA, Harvard, Vancouver, ISO, and other styles
10

Condori, Edison Alejandro Flores. "Do Peruvian financial intermediaries face financial constraints? Evidence from a regulatory change." reponame:Repositório Institucional do FGV, 2017. http://hdl.handle.net/10438/17836.

Full text
Abstract:
Submitted by Edison Alejandro Flores Condori (edisonflores18@gmail.com) on 2017-02-03T20:45:26Z No. of bitstreams: 1 Dissertação Mestrado_Edison Flores FGV.pdf: 1381090 bytes, checksum: 03fed481db399e15ebdbc720a48a2af2 (MD5)
Approved for entry into archive by Pamela Beltran Tonsa (pamela.tonsa@fgv.br) on 2017-02-06T16:53:31Z (GMT) No. of bitstreams: 1 Dissertação Mestrado_Edison Flores FGV.pdf: 1381090 bytes, checksum: 03fed481db399e15ebdbc720a48a2af2 (MD5)
Made available in DSpace on 2017-02-06T19:09:36Z (GMT). No. of bitstreams: 1 Dissertação Mestrado_Edison Flores FGV.pdf: 1381090 bytes, checksum: 03fed481db399e15ebdbc720a48a2af2 (MD5) Previous issue date: 2017-01-19
Financial intermediaries as of microfinance institutions represent a significant source of funds in emerging markets. Microfinances in the Peruvian banking market faced a high evolution, creating a great environment for its development. Thus, in the last 8 years Peru became one of the leading countries in microfinancing practice, while the economy also experimented sustainable growth rates above the average of the region. However, studies about financial intermediaries mainly in microfinance institutions are still few for emerging market contexts. Literature also demonstrates the importance of financial intermediaries as well as a series of financial frictions at their liquidity provision activities as economic agents. Therefore, this study aims to identify whether financial intermediaries in Peru face funding constraints, using a quasi-exogenous event (change in regulation) that allowed small financial intermediaries to increase the scope of their lending activities. We compare these institutions to banks that were not affected by the regulatory change. Our sample is the universe of Peruvian financial intermediaries between 2004 and 2014. Results found in the Diff-in-Diff model indicate that small financial intermediaries, are financially constrained as they increase their costs of funding compared to large banks after the regulatory shock. Our results suggest that cost of deposits matters in a context of credit expansion in an emerging market. These findings evidence the existence of financial market frictions in an emerging economy.
Os intermediários financeiros como as instituições de micro finanças representam uma fonte significativa de fundos em mercados emergentes. As micro finanças no mercado bancário peruano tiveram uma grande evolução, criando um bom ambiente para seu desenvolvimento. Assim, nos últimos 8 anos o Peru tornou-se um dos principais países na prática de micro finanças, enquanto a economia também experimentou taxas de crescimento sustentáveis acima da média da região. No entanto, estudos sobre intermediários financeiros, principalmente em instituições de micro finanças, ainda são poucos para contextos de mercados emergentes. A literatura também demonstra a importância dos intermediários financeiros, bem como uma série de fricções financeiras em suas atividades de provisão de liquidez como agentes econômicos. Ao respeito disso, este estudo tem como objetivo identificar se os intermediários financeiros no Peru enfrentam restrições de financiamento, sando um choque quase exógeno (mudança de regulação), que aumentou o escopo de operações de crédito de intermediários de pequeno porte, comparando-as aos bancos, que não foram afetados pela medida regulatória. A amostra utilizada é o universo de intermediários financeiros peruanos entre 2004 e 2014. Os resultados encontrados no modelo Diff-in-Diff, indicam que os intermediários financeiros pequenos, são financeiramente restritos, uma vez que o seu custo de captação aumenta em relação ao dos bancos após o choque regulatório . Os resultados sugerem que o custo dos depósitos tem um papel importante num contexto de expansão de crédito num mercado emergente. Esses resultados evidenciam a existência de fricções nos mercados financeiros de uma economia emergente.
APA, Harvard, Vancouver, ISO, and other styles
More sources

Books on the topic "Financial constraints"

1

Lamont, Owen A. Financial constraints and stock returns. Cambridge, MA: National Bureau of Economic Research, 1997.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
2

Schiantarelli, Fabio. Form of ownership and financial constraints. Washington D.C: World Bank, 1996.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
3

Volinski, Joel. Maintaining Transit Effectiveness Under Major Financial Constraints. Washington, D.C.: Transportation Research Board, 2014. http://dx.doi.org/10.17226/22340.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Almeida, Heitor. Financial constraints, asset tangibility, and corporate investment. Cambridge, Mass: National Bureau of Economic Research, 2006.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
5

Zhu, Haibin. Credit constraints, financial liberalisation and twin crises. Basel, Switzerland: Bank for International Settlements, Monetary and Economic Dept., 2003.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
6

Campello, Murillo. The real effects of financial constraints: Evidence from a financial crisis. Cambridge, MA: National Bureau of Economic Research, 2009.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
7

Mello, Antonio S. Arbitrage with inelastic liquidity demand and financial constraints. London: Centre for Economic Policy Research, 2001.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
8

Elsinger, Helmut. Arbitrage and optimal portfolio choice with financial constraints. Wien: Oesterreichische Nationalbank, 2001.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
9

Tariq, Banuri, Schor Juliet, and World Institute for Development Economics Research., eds. Financial openness and national autonomy: Opportunities and constraints. Oxford: Clarendon Press, 1992.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
10

J, Galindo Arturo, Schiantarelli Fabio, and Latin American Research Network, eds. Credit constraints and investment in Latin America. Washington: Inter-American Development Bank, 2003.

Find full text
APA, Harvard, Vancouver, ISO, and other styles
More sources

Book chapters on the topic "Financial constraints"

1

Ferguson, Paul R., Glenys J. Ferguson, and R. Rothschild. "Financial Control: Constraints on Management." In Business Economics, 106–19. London: Macmillan Education UK, 1993. http://dx.doi.org/10.1007/978-1-349-22696-2_7.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Ekinci, Nazim Kadri. "Financial Liberalization Under External Debt Constraints." In Experiences with Financial Liberalization, 243–66. Dordrecht: Springer Netherlands, 1997. http://dx.doi.org/10.1007/978-94-011-5370-6_10.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Maurer, Boris. "Innovation under Financial Constraints and Competition." In Contributions to Economics, 112–34. Heidelberg: Physica-Verlag HD, 1996. http://dx.doi.org/10.1007/978-3-642-95925-7_5.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Andrews, Kevin. "United Kingdom: Financial and Cultural Constraints." In Environment & Policy, 151–66. Dordrecht: Springer Netherlands, 2003. http://dx.doi.org/10.1007/978-94-017-0101-3_9.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Forlani, Emanuele. "Export Activity and Firms’ Financial Constraints." In Spatial Economics Volume II, 183–218. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40094-1_7.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Frangakis, Marica, and Jörg Huffschmid. "EU Financial Integration: Constraints and Alternatives." In Alternative Perspectives on Economic Policies in the European Union, 37–85. London: Palgrave Macmillan UK, 2006. http://dx.doi.org/10.1057/9780230627352_2.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Fritsch, Winston. "Attempts at Financial Reconstruction." In External Constraints on Economic Policy in Brazil, 1889–1930, 75–117. London: Palgrave Macmillan UK, 1988. http://dx.doi.org/10.1007/978-1-349-09580-3_5.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Sasidharan, Subash. "Does financial liberalisation ease firms’ credit constraints? 1." In Complexities of Financial Globalisation, 145–72. First Edition. | New York : Routledge, 2020. | Series: Routledge international studies in money and banking: Routledge, 2020. http://dx.doi.org/10.4324/9780367822439-8.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Onoh, J. K. "Budgetary Goals and Constraints in Nigeria." In The Foundations of Nigeria's Financial Infrastructure, 194–213. London: Routledge, 2021. http://dx.doi.org/10.4324/9781003227915-15.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Melle, Mónica, Juan A. Maroto, and José L. Raymond. "Business Investment and Financial Constraints. Evidence of Spanish Case by Using Company Level Panel Data." In Financial Modelling, 257–77. Heidelberg: Physica-Verlag HD, 2000. http://dx.doi.org/10.1007/978-3-642-57652-2_18.

Full text
APA, Harvard, Vancouver, ISO, and other styles

Conference papers on the topic "Financial constraints"

1

Yingkai, Tang, Chen Yaozhi, Yi Xiaoqi, and Tang Yitong. "Board Secretary's Financial Experience and Financing Constraints." In ICCMB 2020: 2020 The 3rd International Conference on Computers in Management and Business. New York, NY, USA: ACM, 2020. http://dx.doi.org/10.1145/3383845.3383847.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Zhang, Xinyou. "Digital Economy and Financial Constraints." In Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China. EAI, 2023. http://dx.doi.org/10.4108/eai.9-12-2022.2327679.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Yang, Yunze. "Financial-Industrial Integration, Financing Constraints and Corporate R&D Investment." In 2021 5th Annual International Conference on Data Science and Business Analytics (ICDSBA). IEEE, 2021. http://dx.doi.org/10.1109/icdsba53075.2021.00065.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Hu, Jie, and Yukun Kou. "The Literature Review of Financial Development and Enterprise Financing Constraints on RaD." In 2017 International Conference on Education Science and Economic Management (ICESEM 2017). Paris, France: Atlantis Press, 2017. http://dx.doi.org/10.2991/icesem-17.2017.133.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Ren, Jingbo, and Jun Du. "Financial System, Economic Management and Soft Budget Constraints." In 2009 First International Conference on Information Science and Engineering. IEEE, 2009. http://dx.doi.org/10.1109/icise.2009.594.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Dani, A. R., A. K. Pujari, and V. P. Gulati. "Multi Unit Auctions with Constraints in Financial Domain." In The 8th IEEE International Conference on E-Commerce Technology and The 3rd IEEE International Conference on Enterprise Computing, E-Commerce, and E-Services (CEC/EEE'06). IEEE, 2006. http://dx.doi.org/10.1109/cec-eee.2006.64.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Yang, Rong, and Xuemeng Guo. "Industrial Agglomeration, Financial Development and Financing Constraints of Small and Medium-sized Enterprises." In Proceedings of the 2nd International Conference on Education Science and Social Development (ESSD 2019). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/essd-19.2019.121.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Zhang, Guangbin, and Cairen Nie. "Current Account's Budget Constraints for Capital and Financial Account." In 2010 International Conference on Information Management, Innovation Management and Industrial Engineering (ICIII). IEEE, 2010. http://dx.doi.org/10.1109/iciii.2010.429.

Full text
APA, Harvard, Vancouver, ISO, and other styles
9

Yulvia, Arni, and Wika Arsanti Putri. "The Effect of Financial Constraints on Cash Tax Savings." In The International Conference on Applied Economics and Social Science. SCITEPRESS - Science and Technology Publications, 2020. http://dx.doi.org/10.5220/0010355601740185.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Li, Changsheng, and Wenqi Zhang. "Health Status, Financial Consciousness and Rural Households' Credit Constraints." In International Conference on Education, Management, Commerce and Society. Paris, France: Atlantis Press, 2015. http://dx.doi.org/10.2991/emcs-15.2015.30.

Full text
APA, Harvard, Vancouver, ISO, and other styles

Reports on the topic "Financial constraints"

1

Farre-Mensa, Joan, and Alexander Ljungqvist. Do Measures of Financial Constraints Measure Financial Constraints? Cambridge, MA: National Bureau of Economic Research, October 2013. http://dx.doi.org/10.3386/w19551.

Full text
APA, Harvard, Vancouver, ISO, and other styles
2

Lamont, Owen, Christopher Polk, and Jesus Saa-Requejo. Financial Constraints and Stock Returns. Cambridge, MA: National Bureau of Economic Research, October 1997. http://dx.doi.org/10.3386/w6210.

Full text
APA, Harvard, Vancouver, ISO, and other styles
3

Hong, Harrison, Jeffrey Kubik, and Jose Scheinkman. Financial Constraints on Corporate Goodness. Cambridge, MA: National Bureau of Economic Research, October 2012. http://dx.doi.org/10.3386/w18476.

Full text
APA, Harvard, Vancouver, ISO, and other styles
4

Tamayo, Cesar E. Bankruptcy Choice with Endogenous Financial Constraints. Inter-American Development Bank, July 2017. http://dx.doi.org/10.18235/0000728.

Full text
APA, Harvard, Vancouver, ISO, and other styles
5

Alquist, Ron, Nicolas Berman, Rahul Mukherjee, and Linda Tesar. Financial Constraints, Institutions, and Foreign Ownership. Cambridge, MA: National Bureau of Economic Research, January 2018. http://dx.doi.org/10.3386/w24241.

Full text
APA, Harvard, Vancouver, ISO, and other styles
6

Scott-Clayton, Judith. Information Constraints and Financial Aid Policy. Cambridge, MA: National Bureau of Economic Research, February 2012. http://dx.doi.org/10.3386/w17811.

Full text
APA, Harvard, Vancouver, ISO, and other styles
7

Bolton, Patrick, Neng Wang, and Jinqiang Yang. Investment under Uncertainty with Financial Constraints. Cambridge, MA: National Bureau of Economic Research, October 2014. http://dx.doi.org/10.3386/w20610.

Full text
APA, Harvard, Vancouver, ISO, and other styles
8

Rud, Juan Pablo. Bankruptcy Choice with Endogenous Financial Constraints. Inter-American Development Bank, July 2017. http://dx.doi.org/10.18235/0011802.

Full text
Abstract:
In this paper we study firm dynamics and industry equilibrium when firms under financial distress face a non-trivial choice between alternative bankruptcy procedures. Given limited commitment and asymmetric information, financial contracts specify default, renegotiation and reorganization policies. Renegotiation entails a redistribution of social surplus, while reorganization takes the form of enhanced creditor monitoring. Firms with better contract histories are less likely to default, but, contingent on default, firms with better outside options successfully renegotiate, in line with the empirical evidence. Unless monitoring is too costly, renegotiation leads to reorganization, which resembles actual bankruptcy practice. We calibrate the model to match certain aspects of the data on bankruptcy and firm dynamics in the United States. Our counterfactual experiments suggest that poorly designed bankruptcy arrangements can increase substantially the fraction of firms facing financial constraints, with sizable negative implications for aggregate output and TFP.
APA, Harvard, Vancouver, ISO, and other styles
9

Erel, Isil, Yeejin Jang, and Michael Weisbach. Do Acquisitions Relieve Target Firms' Financial Constraints? Cambridge, MA: National Bureau of Economic Research, February 2013. http://dx.doi.org/10.3386/w18840.

Full text
APA, Harvard, Vancouver, ISO, and other styles
10

Almeida, Heitor, and Murillo Campello. Financial Constraints, Asset Tangibility, and Corporate Investment. Cambridge, MA: National Bureau of Economic Research, March 2006. http://dx.doi.org/10.3386/w12087.

Full text
APA, Harvard, Vancouver, ISO, and other styles
You might also be interested in the extended bibliographies on the topic 'Financial constraints' for particular source types:
Journal articles Dissertations / Theses Books
We offer discounts on all premium plans for authors whose works are included in thematic literature selections. Contact us to get a unique promo code!

To the bibliography