The Effect of External Finance on the Equilibrium Allocation of Capital

By Heitor Almeida, Daniel Wolfenzon. 2005

113 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/57b2eb263000507e5cbc72a9f2a61ced51452686

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Citations in the corpus

Adopting Better Corporate Governance: Evidence from Cross-Border Mergers (2008, background): “Almeida and Wolfenzon (2005) construct a country-speci c measure of nancial dependence which is based on Rajan and Zingales (1998).”
The Real Effects of Banking Crises: Finance or Asset Allocation Effects? Some International Evidence (2010, background): “Almeida and Wolfenzon (2005) provide indirect evidence on this idea showing that an increase in external financing needs during normal periods is associated with a more efficient capital allocation because it increases the liquidation of low productivity projects.”
Corporate Governance and Regulation: Can There Be Too Much of a Good Thing? (2007, unknown): “commit to outside investors (“limited pledgeability” of cash flow) (Almeida and Wolfenzon, 2005).”
The influence of financial and legal institutions on firm size (2006, background): “3 See Stein (2002) and Almeida and Wolfenzon (2003) for an analysis of the role of information flows in the organization of firms.”
The Dynamic Adjustment Towards Target Capital Structures of Firms in Transition Economies (2006, background): “Third, we focus on the speed of 1 See La Porta et al. (1998), Levine (1999) and De Haas (2004) on the nexus between law, finance and economic growth and Almeida and Wolfenzon (2005) on the positive effect of external finance on the efficiency of capital allocation.”
Corporate Governance, Idiosyncratic Risk, and Information Flow (2007, unknown): “In this regression, we follow the procedure used in Almeida and Wolfenzon (2005) for separating endogenous and exogenous effects.”
Should Business Groups be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets (2006, unknown): “Our paper is also related to a recent literature that examines the equilibrium implications of private capital allocation decisions in economies characterized by limited investor protection (Shleifer and Wolfenzon, 2002; Castro et al., 2004; Almeida and Wolfenzon, 2005) and to an earlier literature ”