Law and Firms' Access to Finance
نویسندگان
چکیده
منابع مشابه
How Bank Competition Affects Firms’ Access to Finance
The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expresse...
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We study how firms engaged in both R&D and fixed investment manage liquidity and adjust real investment during the recent financial crisis. Among firms with positive R&D expenditures, cuts to fixed investment in the crisis are typically far more severe than cuts to R&D. These firms allocate cash reserves to buffer R&D but do not use cash to protect fixed investment. Some firms appear to go so f...
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ژورنال
عنوان ژورنال: American Law and Economics Review
سال: 2005
ISSN: 1465-7260
DOI: 10.1093/aler/ahi006