Results 21 to 30 of about 42,209 (256)
Revista Contabilidade & Finanças, 2015 This article analyzes the credit constraints, using the cash flow sensitivity approach, of private and listed companies between 2007 and 2010. According to this approach, the econometric results show that the credit constraints are the same for either ...
Alan Nader Ackel Ghani +2 more
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New or used? Investment with credit constraints [PDF]
Journal of Monetary Economics, 2007 Abstract Used capital is cheap up front but requires higher maintenance payments later on. We argue that the timing of these investment cash outflows makes used capital attractive to financially constrained firms, since it is cheap when evaluated using their discount factor.
Adriano A. Rampini, Andrea L. Eisfeldt
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Permanent income hypothesis in emerging markets: Some Brazilian evidence
EconomiA, 2018 This paper uses a dataset from one of the largest credit card issuers in Brazil to investigate the extent of credit constraints for one of the world's largest emerging market economies.
Claudio Ribeiro Lucinda +1 more
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Housing, Consumption, and Credit Constraints [PDF]
Finance and Economics Discussion Series, 2004 I test the credit-market effects of housing wealth shocks by estimating the consumption elasticity of house price shocks among households in different age quintiles. Younger households face faster expected income growth and hence would like to borrow more than older households.
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Credit Constraints and the Measurement of Time Preferences [PDF]
The Review of Economics and Statistics, 2014 Incentivized experiments are often used to identify the time preferences of households in developing countries. We argue theoretically and empirically that experimental measures may not identify preference parameters, but are a useful tool for understanding financial shocks and constraints.
Mark Dean, Anja Sautmann
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Credit constraints and productivity in Peruvian agriculture [PDF]
Agricultural Economics, 2008 AbstractThis article evaluates the performance of a rural credit market in Peru. We develop a model that shows that collateral requirements imposed by lenders in response to asymmetric information can lead not just to quantity rationing but also to transaction cost rationing and risk rationing.
Boucher, Stephen, Guirkinger, Catherine
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The Nature of Credit Constraints and Human Capital [PDF]
American Economic Review, 2008 We develop a human capital model with borrowing constraints explicitly derived from government student loan (GSL) programs and private lending under limited commitment. The model helps explain the persistent strong positive correlation between ability and schooling in the United States, as well as the rising importance of family income for college ...
Lance J. Lochner +1 more
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The impact of credit rationing on farmer's economic equilibrium
Agricultural Economics (AGRICECON), 2009 The paper deals with the theoretical analysis of the impact of credit rationing on farmer's economic equilibrium. The analysis is carried out based on the derived dynamic optimization model, which is the dynamic investment model with adjustment costs ...
L. Čechura
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Monitoring Costs, Credit Constraints and Entrepreneurship [PDF]
SSRN Electronic Journal, 2012 Access to finance is seen as a binding constraint on the growth of household enterprises in developing countries. We develop a principal agent model of a household enterprise and show that limited access to finance and monitoring costs constrain the firm size via both a direct and indirect effect.
Banerji, Sanjay +2 more
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Economies, 2022 This paper examines the sensitivity of investment to cash flow in declining economic conditions, focusing on the impact of a firm’s reliance on bank debt.
Ghada Tayem
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