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Comovement of Sales, Retention Practice and Financing Constraints in Dutch Manufacturing Author info | Abstract | Publisher info | Download info | Related research | Statistics Bruinshoofd,W.Allard
Letterie,Wilko A. (METEOR)
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This paper assesses the significance of financing constraints in investment decisions for a balanced panel of 206 of the largest Dutch manufacturing firms over the period 1983-1996, employing split sample analysis of reduced form investment equations. Our empirical evidence demonstrates that financing constraints matter in Dutch manufacturing and are associated with high retention practice and strong firm-industry sales comovement.
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Paper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number
001.
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Date of creation: 2001Date of revision:
Handle: RePEc:dgr:umamet:2001001Contact details of provider: Web page: http://edocs.ub.unimaas.nl/
For technical questions regarding this item, or to correct its listing, contact: (Willy Villevoye).
Keywords: mathematical economics References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
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Econometrica ,
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Hoshi, Takeo & Kashyap, Anil & Scharfstein, David, 1991.
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The Quarterly Journal of Economics ,
MIT Press, vol. 106(1), pages 33-60, February.
[Downloadable!] (restricted) Vogt, Stephen C., 1994.
"The role of internal financial sources in firm financing and investment decisions ,"
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Toni M. Whited, 1990.
"Debt, liquidity constraints, and corporate investment: evidence from panel data ,"
Finance and Economics Discussion Series
114, Board of Governors of the Federal Reserve System (U.S.).
Steven Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1988.
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Baltagi, Badi H., 1981.
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Whited, Toni M, 1992.
" Debt, Liquidity Constraints, and Corporate Investment: Evidence from Panel Data ,"
Journal of Finance ,
American Finance Association, vol. 47(4), pages 1425-60, September.
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Chirinko, Robert S & Schaller, Huntley, 1995.
"Why Does Liquidity Matter in Investment Equations? ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 27(2), pages 527-48, May.
[Downloadable!] (restricted)
Other versions: L. de Haan & J. Hinloopen, 1999.
"Debt or equity? An empirical study of security issues by Dutch companies ,"
WO Research Memoranda (discontinued)
577, Netherlands Central Bank, Research Department.
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Shleifer, Andrei & Vishny, Robert W, 1992.
" Liquidation Values and Debt Capacity: A Market Equilibrium Approach ,"
Journal of Finance ,
American Finance Association, vol. 47(4), pages 1343-66, September.
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Steven M. Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1988.
"Financing Constraints and Corporate Investment ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 19(1988-1), pages 141-206.
[Downloadable!]
Luigi Guiso & Giuseppe Parigi, 1999.
"Investment And Demand Uncertainty ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 114(1), pages 185-227, February.
[Downloadable!] (restricted)
Other versions:
Guiso, Luigi & Parigi, Giuseppe, 1996.
"Investment and Demand Uncertainty ,"
CEPR Discussion Papers
1497, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Guiso, L. & Parigi, G., 1996.
"Investment and Demand Uncertainty ,"
Papers
289, Banca Italia - Servizio di Studi.
Oliner, Stephen D & Rudebusch, Glenn D, 1992.
"Sources of the Financing Hierarchy for Business Investment ,"
The Review of Economics and Statistics ,
MIT Press, vol. 74(4), pages 643-54, November.
[Downloadable!] (restricted)
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