DETERMINANTS OF FINANCIAL CONSTRAINTS: THE EFFECT OF FINANCIAL CRISIS AND HETEROGENEITY ACROSS INDUSTRIES

被引：0
作者：
Ponikvar, Nina [1 ]
Kejzar, Katja Zajc [2 ]
Moerec, Barbara [3 ]
机构：
[1] Univ Ljubljana, Fac Econ, Acad Unit Econ, SI-1000 Ljubljana, Slovenia
[2] Univ Ljubljana, Fac Econ, Acad Unit Int Econ & Business, SI-1000 Ljubljana, Slovenia
[3] Univ Ljubljana, Fac Econ, Acad Unit Accounting & Auditing, SI-1000 Ljubljana, Slovenia
来源：
EKONOMSKA ISTRAZIVANJA-ECONOMIC RESEARCH | 2013年
关键词：
financial constraints; industry factors; firm characteristics; economic crisis; CORPORATE-INVESTMENT; FIRM; POLICY; BEHAVIOR; GROWTH; IMPACT; INFORMATION; DECISIONS; CREDIT; MARKET;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Based on the population of Slovenian firms we analyse the impact of the 2008 financial crisis on the firms' financial constraints. In line with the theoretical predictions firm size, ownership, productivity, and export orientation all impact firm's financial situation. With the full onset of the crisis in 2009, financial health of the foreign firms worsened more compared to domestic firms, while the availability of financial resources deteriorated less for more productive firms and for exporters. Even though firm's size has a significant impact on firm's financial constraint, crisis didn't have an additional significant negative effect on firms' financial distress for all but small firms.
引用
收藏
页码：45 / 62
页数：18
相关论文
共 50 条
  • [31] Financial constraints and the interdependence of corporate financial decisions A cross-country study
    Kirch, Guilherme
    Terra, Paulo Renato
    RAUSP MANAGEMENT JOURNAL, 2020, 55 (03): : 339 - 354
  • [32] Financial crisis, austerity, and health in Europe
    Karanikolos, Marina
    Mladovsky, Philipa
    Cylus, Jonathan
    Thomson, Sarah
    Basu, Sanjay
    Stuckler, David
    Mackenbach, Johan P.
    McKee, Martin
    LANCET, 2013, 381 (9874) : 1323 - 1331
  • [33] The spillover effect of advertising on the capital market: Evidence from financial constraints
    Jiang, Fuxiu
    Shen, Yanyan
    Xia, Xiaoxue
    JOURNAL OF CORPORATE FINANCE, 2024, 84
  • [34] Are excess cash holdings more valuable to firms in times of crisis? Financial constraints and governance matters
    Chang, Yanhao
    Benson, Karen
    Faff, Robert
    PACIFIC-BASIN FINANCE JOURNAL, 2017, 45 : 157 - 173
  • [35] Unlocking Dividend Potential Through the Power of Sustainable Disclosures: Moderating Role of Financial Constraints
    Malik, Neha
    Kashiramka, Smita
    BUSINESS STRATEGY AND THE ENVIRONMENT, 2025, 34 (03) : 3086 - 3113
  • [36] Corporate Cash Holdings and Financial Constraints -An Analysis Based on Data on China at Company Level after the Global Financial Crisis
    Zhang, Hong
    Zhang, Yuyao
    Zhou, Shimin
    He, Yanmin
    EMERGING MARKETS FINANCE AND TRADE, 2020, 56 (07) : 1490 - 1503
  • [37] Bankruptcy, Investment, and Financial Constraints: Evidence from the Czech Republic
    Schwarz, Jiri
    Pospisil, Martin
    EASTERN EUROPEAN ECONOMICS, 2018, 56 (02) : 99 - 121
  • [38] Determinants and Economic Consequences of Non-financial Disclosure Quality
    Gao, Fang
    Dong, Yi
    Ni, Chenkai
    Fu, Renhui
    EUROPEAN ACCOUNTING REVIEW, 2016, 25 (02) : 287 - 317
  • [39] The effect of financial constraints on energy-climate scenarios
    Ekholm, Tommi
    Ghoddusi, Hamed
    Krey, Volker
    Riahi, Keywan
    ENERGY POLICY, 2013, 59 : 562 - 572
  • [40] The effect of the financial crisis on audit quality: European evidence
    Kyriakou, Maria I.
    INTERNATIONAL JOURNAL OF ACCOUNTING AND INFORMATION MANAGEMENT, 2022, 30 (01) : 143 - 158
12345