Financial Constraints, Asset Tangibility, and Corporate Investment
By Heitor Almeida, Murillo Campello. 2007
1,692 citations recorded by the source corpus.
Subfields: Accounting, Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/6b8748b404f5bc39feafc70b66268a55c82bbfea
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
- Murillo Campello
- Heitor Almeida
- Jarrad Harford
- Justin Hung Nguyen
- Lu Zhang
- Dongmei Li
- John R. Graham
- Jie Gan
In Finance
- Murillo Campello
- Dongmei Li
- Lu Zhang
- Heitor Almeida
- H. N. Duong
- Huseyin Gulen
- Justin Hung Nguyen
- Gregory F. Udell
In Strategy and Management
- Murillo Campello
- Dongmei Li
- Jie Gan
- Justin Hung Nguyen
- Heitor Almeida
- John R. Graham
- James R. Brown
- Lu Zhang
Citations in the corpus
- Corporate Zombies: Anatomy and Life Cycle (2020, methodology): “The set of control variables includes those commonly used in corporate finance studies on investment and cash holdings (e.g. Almeida and Campello (2007)), namely the ratio of fixed assets over total assets, the firm’s Tobin’s q, log total assets and the ratio of capital expenditures to total assets.”
- Costly External Financing, Investment Timing, and Investment-Cash Flow Sensitivity (2007, background): “This non-monotonic relation complements the models of Cleary, Povel and Raith (2007) and Almeida and Campello (2007) that predict a non-monotonic relation between the sensitivity of investment to cash flow and the level of a firm’s liquid assets.”
- Financing constraints, R&D investments and innovative performances: new empirical evidence at the firm level for Europe (2016, background): “In both its standard formulations and later refinements, this analytical framework has been able to provide confirmation of financing constraints to physical investments in different contexts (e.g. Hu and Schiantarelli, 1998; Allayannis and Mozumdar, 2004; Almeida and Campello, 2007).”
- Corporate investment efficiency: The role of financial development in firms with financing constraints and agency issues in OECD non-financial firms (2019, background): “Researchers, such as Almeida and Campello (2007) and Hadlock and Pierce (2010), also stress the importance of”
- Bank Market Power and SME Financing Constraints (2009, positive): “contractibility problems ( Almeida and Campello, 2004 ).”
- Does Credit Crunch Investment Down? New Evidence on the Real Effects of the Bank-Lending Channel (2016, background): “14The investment to asset (book capital) ratio of large Japanese firms in Gan (2007b) is on average 31 percent; that of US Compustat firms used in Almeida and Campello (2007) is around 25-30 percent.”
- Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble (2013, positive): “Similarly to results in Almeida and Campello (2007) and Acharya et al. (2007), we nd that nancially unconstrained manufacturers generally gear issuance proceeds towards debt reductions and dividend disbursements.”