Financial Factors and Investment in Belgium, France, Germany, and the United Kingdom: A Comparison Using Company Panel Data

By Stephen R. Bond, J. Elston, Jacques Mairesse, Benot Mulkay. Review of Economics and Statistics, 2003

565 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/ad592e84c3a97f37f54b70511bb04df66802441e

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Citations in the corpus

The Interest Rate and Credit Channels in Belgium: An Investigation with Micro-Level Firm Data (2001, unknown): “In contrast to Bond et al. (1997) we use a firm-specific user cost of capital.”
Firm Growth and Liquidity Constraints: A Dynamic Analysis (2006, background): “5 Liquidity constraints, measured by cash flow, have been shown to negatively affect firm’s investment (Bond et al., 2003) and to increase the likelihood of failure (Holtz-Eakin et al., 1994).”
Financing constraints and investments in R&D: Evidence from Indian manufacturing firms (2015, methodology): “The above structural approach originally proposed by Bond and Meghir (1994) and improved by Bond et al (2003).”
The demand and supply of external finance for innovative firms (2013, background): “…constraints, as is the case in studies that estimate the sensitivity of R&D investments to cash flow (Hall, 1992; Electronic copy available at: https://ssrn.com/abstract=2914382 9 Brown and Petersen, 2009, 2011; Bond et al., 2003, 2010; Mulkay et al., 2001; Harhoff, 1998; Carpenter et al., 1998).”
Do Financing Constraints Matter for R&D? (2012, unknown): “On the other hand, Bond et al. (2003b) find that neither German firms nor U.K. firms display a correlation between the level of R&D and cash flow, and Harhoff (1998) finds a statistically significant but weak relation between R&D and cash flow for small and large German firms.”
Financial Flexibility, Investment Ability, and Firm Value: Evidence from Firms with Spare Debt Capacity (2010, methodology): “We employ the GMM technique in a dynamic framework similar to Bond et al. (2003) to control for endogeneity and fixed effects.”
Internal financial constraints, external financial constraints, and investment choice: Evidence from a panel of UK firms. (2008, methodology): “We initially estimate the following error-correction specification (see Bond et al., 2003; Bond and Lombardi, 2006; and Bloom et al., 2007, for a similar specification): Iit /Ki(t-1) = a0 + a1Ii(t-1)/Ki(t-2) + a2∆sit + a3∆si(t-1) + a4(ki(t-2)-si(t-2)) + +a5 CFit /Ki(t-1) + vi + vt + vjt + eit…”
The Transmission of Monetary Policy through Bank Lending: The Floating Rate Channel (2017, unknown): “+γ1controlsi,t + γ21(constra ined)i,tcontrolsi,t + γ3stcontrolsi,t +γ4(constra ined)i,tstcontrolsi,t + εt, (20)”
Do Financial Constraints Matter for Foreign Market Entry? A Firm-Level Examination (2008, unknown): “On the other hand Bond et al (2003) show that once investment opportunities are properly controlled for the cash flow is not a significant predictor of future sales for European firms.”