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Cited by 744

The DOI matches its Crossref record; 17 of the 17 references it cites were found in a registry or an index.

Investment-Cash Flow Sensitivities are Useful: A Comment on Kaplan and Zingales

Fazzari, S. M., Hubbard, R. G., Petersen, B. C.·2000·The Quarterly Journal of Economics
DOI 10.1162/003355300554773
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Abstract

A recent paper in this Journal by Kaplan and Zingales reexamines a subset of firms from work of Fazzari, Hubbard, and Petersen and criticizes the usefulness of investment-cash flow sensitivities for detecting financing constraints. We show that the Kaplan and Zingales theoretical model fails to capture the approach employed in the literature and thus does not provide an effective critique. Moreover, we describe why their empirical classification system is flawed in identifYing both whether firms are constrained and the relative degree of constraints across firm groups. We conclude that their results do not support their conclusions about the usefulness of investment-cash flow sensitivities.

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Metadata

Authors
Fazzari, S. M., Hubbard, R. G., & Petersen, B. C.
Venue
The Quarterly Journal of Economics
Publisher
Oxford University Press (OUP)
Published
2000-05-01
Volume
115
Issue
2
Pages
695-705
ISSN
  • 0033-5533 (ISSN-L)
  • 1531-4650
DOI
10.1162/003355300554773
OpenAlex
W2136456638
Cited by
744
References
17
FWCI
189.31
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Investment-Cash Flow Sensitivities are Useful: A Comment on Kaplan and Zingales. https://app.cochat.ai/papers/10.1162/003355300554773
The paper
Fazzari, S. M., Hubbard, R. G., & Petersen, B. C. (2000). Investment-Cash Flow Sensitivities are Useful: A Comment on Kaplan and Zingales. The Quarterly Journal of Economics. https://doi.org/10.1162/003355300554773

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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.