The DOI matches its Crossref record; 68 of the 68 references it cites were found in a registry or an index.
Local Bank Financial Constraints and Firm Access to External Finance
Abstract
I exploit the exogenous component of a formula‐based allocation of government funds across banks in Argentina to test for financial constraints and underinvestment by local banks. Banks are found to expand lending by $0.66 in response to an additional dollar of external financing. Using novel data to measure risk and return on marginal lending, I show that the profitability of lending does not decline and total borrower debt increases during lending expansions, holding investment opportunities constant. Overall, financial shocks to constrained banks are found to have a quick, persistent, and amplified effect on the aggregate supply of credit.
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(2001) · RePEc: Research Papers in Economics · Cited by 27,577
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
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The Cost of Capital, Corporation Finance and the Theory of Investment
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Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
Petersen, M. A. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn053 · Cited by 10,746
How Much Should We Trust Differences-in-Differences Estimates?
Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
Agency costs of free cash flow, corporate finance, and takeovers
Jensen, M. C. (1996) · Corporate Bankruptcy · doi:10.1017/cbo9780511609435.005 · Cited by 9,306
The cost of capital, corporation finance and the theory of investment
Terra, P. R. (2008) · Revista de Administração e Contabilidade da Unisinos · doi:10.4013/base.20082.07 · Cited by 8,615
Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?
Kaplan, S. N., & Zingales, L. (1997) · The Quarterly Journal of Economics · doi:10.1162/003355397555163 · Cited by 6,770
Financing Constraints and Corporate Investment
Fazzari, S. M., Hubbard, R. G., Petersen, B. C., Blinder, A. S., & Poterba, J. M. (1988) · Brookings Papers on Economic Activity · doi:10.2307/2534426 · Cited by 5,574
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Democratizing entry: Banking deregulations, financing constraints, and entrepreneurship☆
Kerr, W. R., & Nanda, R. (2009) · Journal of Financial Economics · doi:10.1016/j.jfineco.2008.12.003 · Cited by 679
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Favara, G., & Imbs, J. (2015) · American Economic Review · doi:10.1257/aer.20121416 · Cited by 621
Cross-border banking, credit access, and the financial crisis
Popov, A., & Udell, G. F. (2012) · Journal of International Economics · doi:10.1016/j.jinteco.2012.01.008 · Cited by 451
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Metadata
- Authors
- PARAVISINI, D.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2008-09-10
- Volume
- 63
- Issue
- 5
- Pages
- 2161-2193
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2058624465
- Cited by
- 391
- References
- 68
- FWCI
- 26.83
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
