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Cited by 828

The DOI matches its Crossref record; 50 of the 50 references it cites were found in a registry or an index.

Investment and Financing Constraints: Evidence from the Funding of Corporate Pension Plans

Open access
RAUH, JOSHUA D.·2006·The Journal of Finance
DOI 10.1111/j.1540-6261.2006.00829.x
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Abstract

I exploit sharply nonlinear funding rules for defined benefit pension plans in order to identify the dependence of corporate investment on internal financial resources in a large sample. Capital expenditures decline with mandatory contributions to DB pension plans, even when controlling for correlations between the pension funding status itself and the firm's unobserved investment opportunities. The effect is particularly evident among firms that face financing constraints based on observable variables such as credit ratings. Investment also displays strong negative correlations with the part of mandatory contributions resulting solely from unexpected asset market movements.

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Metadata

Authors
RAUH, J. D.
Venue
The Journal of Finance
Publisher
Wiley
Published
2006-01-20
Volume
61
Issue
1
Pages
33-71
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2006.00829.x
OpenAlex
W3122711915
Cited by
828
References
50
FWCI
123.46
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Investment and Financing Constraints: Evidence from the Funding of Corporate Pension Plans. https://app.cochat.ai/papers/10.1111/j.1540-6261.2006.00829.x
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RAUH, J. D. (2006). Investment and Financing Constraints: Evidence from the Funding of Corporate Pension Plans. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2006.00829.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.