Firms' leverage and labour productivity: a quantile approach in Portuguese firms
AbstractWe show that the leverage of Portuguese firms tends to negatively affect its labour productivity for firms with relatively lower labour productivity but to positively affect this variable for firms in the right-hand side of the productivity distribution. This is particularly important in a country where labour productivity is persistently lower compared with the richer countries in Europe. Thus, we have concluded that, controlling for the usual effects, increasing leverage cannot be a solution for the less productive (and consequently the majority) of Portuguese firms.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 39 (2007)
Issue (Month): 14 ()
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- Michele Bernini & Sarah Guillou & Flora Bellone, 2013.
"Firms' Leverage and Export Quality: Evidence from France,"
GREDEG Working Papers
2013-29, Groupe de REcherche en Droit, Économie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
- Michele Bernini & Sarah Guillou & Flora Bellone, 2013. "Firms leverage and export quality:evidence from France," Documents de Travail de l'OFCE 2013-13, Observatoire Francais des Conjonctures Economiques (OFCE).
- Minjia Chen & Alessandra Guariglia, . "Financial constraints and firm productivity in China: do liquidity and export behavior make a difference?," Discussion Papers 11/09, University of Nottingham, GEP.
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