Capital Structure and Product Markets Interactions: Evidence from Business Cycles

By Murillo Campello. 2003

378 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/938f2e9e4db1b56942079536a7d1231a9da860ef

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Citations in the corpus

The Cash Flow Sensitivity of Cash (2004, positive): “To implement this test, we use a two-step approach similar to that used by Kashyap and Stein (2000) and Campello (2003).”
Empirical Capital Structure: A Review (2009, neutral): “Campello (2003), which builds on Chevalier and Scharfstein (1996), explores how firms’ pricing decisions respond to macroeconomic shocks.”
The influence of product market dynamics on a firm's cash holdings and hedging behavior (2007, neutral): “1 For example, see Opler, Pinkowitz, Stulz, and Williamson (1999), Harford, Mikkelson, and Partch (2003), Almeida, Campello, and Weisbach (2004), and Acharya, Almeida, and Campello (2004).”
Corporate Liquidity Management: A Conceptual Framework and Survey (2014, neutral): “…literature has examined the impact of financial policy on product market interactions, but the primary focus of that literature, both theoretical and empirical, has been on debt policies (e.g., Brander & Lewis 1986; Bolton & Scharfstein 1990; Chevalier 1995a,b; Phillips 1995; Campello 2003).”
Capital Structure as a Strategic Variable: Evidence from Collective Bargaining (2010, neutral): “Other related empirical papers include Opler and Titman (1994), Phillips (1995), Kovenock and Phillips (1997), Campello (2003), Campello and Fluck (2004), and Brown, Fee, and Thomas (2005).”
Factors determining capital structure and corporate performance in India: Studying the business cycle effects (2016, background): “Campello (2003) empirically examined the impact of debt financing on industry markups and sales growth and found that during recessions, higher debt financing has a negative impact on firm sales growth in industries where rival firms are comparatively less levered.”
Coordination and Lock-In: Competition with Switching Costs and Network Effects (2006, positive): “They provide evidence that during recessions (when nancial constraints are most likely to matter) the most nancially-constrained supermarket chains indeed raise their prices relative to other chains, and Campello and Fluck (2004)'s subsequent empirical work shows that these e ects are larger in indu”
Financial Constraints, Asset Tangibility, and Corporate Investment (2007, methodology): “nancial development and industry growth (Claessens and Laeven (2003) and Braun (2003)), and in the valuation of abandonment options by corporate investors (Berger et al.”
Financial Decision Making in Family Firms (2014, methodology): “We controlled for profitability, growth, and industry, as these variables are frequently used in capital structure research (Campello, 2003; Heyman et al., 2008; Romano et al., 2001) in a post hoc analysis.”
Corporate Capital Structure and the Characteristics of Suppliers and Customers (2007, neutral): “Empirical studies such as Opler and Titman (1994), Chevalier (1995a, b), Phillips (1995), Kovenock and Phillips (1997), Zingales (1998), Khanna and Tice (2000, 2005), and Campello (2003, 2005) find evidence consistent with leverage affecting product market strategy.”
Capital structure, product market competition and firm performance: Evidence from South Africa (2013, positive): “The existing evidence of these interaction effects of leverage and competition is based on U.S. firms (Campello, 2003, 2006; Chevalier, 1995a,b; Kovenock & Phillips, 1997; Opler & Titman, 1994).”