Production Smoothing, Firms' Heterogeneity, and Financial Constraints: Evidence from a Panel of UK Firms
AbstractIn this paper, the authors provide an empirical analysis of heterogeneity in firms' inventory behavior using a panel of U.K. manufacturing firms. They first investigate how the relative variance of production and sales differs across firms. The authors then use variants of the linear quadratic inventory model in order to analyze potential heterogeneity in firms' incentives to smooth production. The results suggest that incentives to smooth production are not prevalent. This conclusion also holds when firms are partitioned according to whether they are more or less likely to face financial constraints. Copyright 1998 by Royal Economic Society.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 50 (1998)
Issue (Month): 1 (January)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://oep.oupjournals.org/
Other versions of this item:
- Alessandra Guariglia and Fabio Schiantarelli, . "Production Smoothing, Firms' Heterogeneity, and Financial Constraints: Evidence from a Panel of UK Firms," Economics Discussion Papers 449, University of Essex, Department of Economics.
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Andrew Benito, 2002. "Financial pressure, monetary policy effects and inventory adjustment by UK and Spanish firms," Banco de Espaï¿½a Working Papers 0226, Banco de Espa�a.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.