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Évolution des stocks et facteurs financiers. Une étude sur données d'entreprises françaises

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  • Jean Belin
  • Thierry Debrand

Abstract

This paper examines inventory investment of 835 french firms from 1987 to 1995. The estimates indicate that small firms are more sensitive than large firms to financial factors. Moreover, this sensitivity is amplified during shocks. Thus, results obtained would confirm the existence of a “financial accelerator” and would explain the fluctuations in output, inventories and credits over this period. Classification JEL : E22, E44, E50, C23, D21

Suggested Citation

  • Jean Belin & Thierry Debrand, 2002. "Évolution des stocks et facteurs financiers. Une étude sur données d'entreprises françaises," Revue économique, Presses de Sciences-Po, vol. 53(1), pages 83-111.
  • Handle: RePEc:cai:recosp:reco_531_0083
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    References listed on IDEAS

    as
    1. Bertrand Rime, 2005. "Will Basel II Lead to a Specialization of Unsophisticated Banks on High-Risk Borrowers?," International Finance, Wiley Blackwell, vol. 8(1), pages 29-55, July.
    2. Blum, Jürg M., 2008. "Why 'Basel II' may need a leverage ratio restriction," Journal of Banking & Finance, Elsevier, vol. 32(8), pages 1699-1707, August.
    3. Mark J. Flannery & Kasturi P. Rangan, 2008. "What Caused the Bank Capital Build-up of the 1990s?," Review of Finance, European Finance Association, vol. 12(2), pages 391-429.
    4. Repullo, Rafael & Suarez, Javier, 2004. "Loan pricing under Basel capital requirements," Journal of Financial Intermediation, Elsevier, vol. 13(4), pages 496-521, October.
    5. Craig Furfine, 2001. "Bank Portfolio Allocation: The Impact of Capital Requirements, Regulatory Monitoring, and Economic Conditions," Journal of Financial Services Research, Springer;Western Finance Association, vol. 20(1), pages 33-56, September.
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    More about this item

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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