This paper examines a tractable real business cycle model with idiosyncratic productivity shocks and binding credit constraints on entrepreneurs. The model shows how firm volatility increases in combination with credit market development. It further generates the observed comovement of credit and firm volatility with output at business cycle frequencies in response to aggregate productivity sho...

Do large firm dynamics drive the business cycle? We answer this question by developing a quantitative theory of aggregate fluctuations caused by firm-level disturbances alone. We show that a standard heterogeneous firm dynamics setup already contains in it a theory of the business cycle, without appealing to aggregate shocks. We offer a complete analytical characterization of the law of motion ...

I present a model in which the incomplete nature of contracts governing international transactions limits the extent to which the production process can be fragmented across borders. Because of contractual frictions, goods are initially manufactured in the same country where product development takes place. Only when the good becomes sufficiently standardized is the manufacturing stage of produ...

  Food packaging is used to maintain the safety and quality of food during distribution and storage and to protect them from adverse internal and external conditions, such as water vapor, spoilage due to microorganisms, moisture, light, and dust. In this regard, lots of research studies have been done to increase shelf life, safety, and quality to create suitable physico...

working capital management is an essential part of the short-term finance of a firm. with an efficient working capital management, a firm can release capital for more strategic objectives, reduce the financial costs, and improve profitability. the present research studies the relationship of working capital management on performance of firms listed in tehran stock exchange (tse). average collec...

Using a German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The cross-sectional standard deviation of firm-level innovations in the Solow residual, value added and employment is robust...

This paper examines the impact of corporate environmental, social and governance (ESG) disclosure on cash holdings, specifically during various stages firm life cycle S&P 1500 indexed firms. Using a sample 9811 firm-year observations from 2006 to 2015, we document significantly negative relation between ESG holdings in introduction, growth shake-out/decline stages, those lower are associated wi...