Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies

A. Guariglia; J. Tsoukalas; S. Tsoukas

doi:10.1016/j.econlet.2012.07.031

Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies

A. Guariglia, J. Tsoukalas, S. Tsoukas

Economics

Research output: Contribution to journal › Article › peer-review

12 Citations (Scopus)

Abstract

Focusing on a panel of unlisted firms from transition economies, we observe that only firms facing low irreversibility exhibit high and significant investment-cash flow sensitivities. Our findings provide a new explanation for why some financially constrained firms may exhibit low sensitivities.

Original language	English
Pages (from-to)	582-584
Number of pages	3
Journal	Economics Letters
Volume	117
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2012.07.031
Publication status	Published - 1 Dec 2012

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title = "Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies",

abstract = "Focusing on a panel of unlisted firms from transition economies, we observe that only firms facing low irreversibility exhibit high and significant investment-cash flow sensitivities. Our findings provide a new explanation for why some financially constrained firms may exhibit low sensitivities.",

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Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies

Abstract

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