Investment-cash flow sensitivities and capital misallocation
This paper directly estimates the effect of financing constraint on capital misallocation. We provide a simple theoretical framework that links the heterogeneity in investment-cash flow sensitivity, a common indicator of financing constraint, to the dispersion of marginal revenue product of capital,...
Main Authors: | Ek, Chanbora, Wu, Guiying Laura |
---|---|
Other Authors: | School of Social Sciences |
Format: | Journal Article |
Language: | English |
Published: |
2019
|
Subjects: | |
Online Access: | https://hdl.handle.net/10356/106511 http://hdl.handle.net/10220/47942 |
Similar Items
-
Do financial restricted companies use the cash flow for investment or for cash holdings?
by: Alberto Granzotto, et al.
Published: (2020-10-01) -
The Relationship between Cash Flow Sensitivity of Investment with Level of Capital Expenditure
M
by: Mahdi Sadidi, et al.
Published: (2013-03-01) -
Capital misallocation in China : financial frictions or policy distortions?
by: Wu, Guiying Laura
Published: (2019) -
Asymmetric Cash Flow Sensitivity of Cash Holdings
by: Hamid Haghighat, et al.
Published: (2012-12-01) -
Asymmetric Cash Flow Sensitivity of Cash Holdings
by: Sahar Sepasi, et al.
Published: (2014-02-01)