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Do financial constraints really matter? A case of understudied African firms
16 references·2 citing·30 second hop
Do financial constraints really matter? A case of understudied African firms (2020)Do financial constraints really matter? A…New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)New Evidence on Measuring Fin…Financial Constraints Risk (2006)Financial Constraints RiskPayout policy in the 21st century (2005)Payout policy in the 21st cen…Partial adjustment toward target capital structures (2005)Partial adjustment toward tar…The Cash Flow Sensitivity of Cash (2004)The Cash Flow Sensitivity of …Stock markets, banks, and growth: Panel evidence (2003)Stock markets, banks, and gro…Capital Structures in Developing Countries (2001)Capital Structures in Develop…Financial Development and Economic Growth: Views and Agenda (1999)Financial Development and Eco…Initial conditions and moment restrictions in dynamic panel data models (1998)Initial conditions and moment…Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Initial conditions and moment restrictions in dynamic panel data models (1995)Initial conditions and moment…Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Some Tests of Specification f…Financing Constraints and Corporate Investment (1988)Financing Constraints and Cor…Financing Constraints and Corporate Investment (1987)Financing Constraints and Cor…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Financial Development and Economic Growth: Views and AgendaFinancial Development and Eco…The ‘play’ of institutions and firm investment: Evidence from a transition economy (2023)The ‘play’ of institutions an…The financial conservatism of firms in emerging economies (2021)The financial conservatism of…The determinants and implications of corporate cash holdings (1999)Corporate social responsibility and access to finance (2013)The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2016)Demand for green finance: Resolving financing constraints on green innovation in China (2021)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Managing with Style: The Effect of Managers on Firm Policies (2003)Biases in Dynamic Models with Fixed Effects (1981)Another look at the instrumental variable estimation of error-components models (1995)A finite sample correction for the variance of linear efficient two-step GMM estimators (2004)How to do Xtabond2: An Introduction to Difference and System GMM in Stata (2009)Credit Rationing in Markets with Imperfect Information (1981)Agency costs of free cash flow, corporate finance, and takeovers (1996)Common risk factors in the returns on stocks and bonds (1993)… and the Cross-Section of Expected Returns (2015)Policy Uncertainty and Corporate Investment (2015)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Threshold effects in non-dynamic panels: Estimation, testing, and inference (1999)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Financial Dependence and Growth (1996)Finance and the sources of growth (2000)
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References

  • 1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations33,089 cited
  • 1998Initial conditions and moment restrictions in dynamic panel data models22,547 cited
  • 1995Initial conditions and moment restrictions in dynamic panel data models14,749 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 2010New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index5,574 cited
  • 1988Financing Constraints and Corporate Investment5,566 cited
  • n.d.Financial Development and Economic Growth: Views and Agenda4,646 cited
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  • 1999Financial Development and Economic Growth: Views and Agenda2,978 cited
  • 2001Capital Structures in Developing Countries2,335 cited
  • 2005Payout policy in the 21st century2,268 cited
  • 2003Stock markets, banks, and growth: Panel evidence2,064 cited

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  • 2005Partial adjustment toward target capital structures2,038 cited
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    • 2021The financial conservatism of firms in emerging economies14 cited
    • 2023The ‘play’ of institutions and firm investment: Evidence from a transition economy5 cited