How Costly Is External Financing? Evidence from a Structural Estimation
By C. Hennessy, Toni M. Whited. 2007
1,108 citations recorded by the source corpus.
Subfields: Accounting, Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/e2c1adec3fec9e894aeae792578cf9e2953dd621
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
- Toni M. Whited
- Berardino Palazzo
- Artyom Durnev
- Zhiguo He
- Neng Wang
- Dongmei Li
- Mariano Massimiliano Croce
- Lu Zhang
In Finance
- Toni M. Whited
- Zhiguo He
- Tim Loughran
- Berardino Palazzo
- Mariano Massimiliano Croce
- Dongmei Li
- Neng Wang
- Lu Zhang
In Strategy and Management
- Toni M. Whited
- Berardino Palazzo
- Dongmei Li
- Juliane Begenau
- Neng Wang
- Mariano Massimiliano Croce
- Lu Zhang
- Francesco A. Franzoni
Citations in the corpus
- Financial Constraints, Asset Tangibility, and Corporate Investment (2007, neutral): “, Whited (1992), Himmelberg and Petersen (1994), and Gilchrist and Himmelberg (1995)].”
- The spillover effects of MD&A disclosures for real investment: The role of industry competition (2019, background): “Financial reports represent a prominent information source, in particular MD&As (Marin and Poulter, 2004), which are intended to explain a firm's financial statements (Hoberg, 2016).”
- Equity Market Misvaluation, Financing, and Investment (2015, background): “The first is the literature on structural estimation of dynamic models in corporate finance, such as Hennessy and Whited (2005, 2007), DeAngelo, DeAngelo, and Whited (2011), Morellec, Nikolov, and Schürhoff (2012), and Matvos and Seru (2011).”
- Does Q-Theory with Investment Frictions Explain Anomalies in the Cross-Section of Returns? (2010, methodology): “Several studies cast doubt on this index as a valid measure of financing constraints (e.g., Almeida et al. (2004), Whited and Wu (2006), Hennessy and Whited (2007), and Hadlock and Pierce (2009)).”
- Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis (2016, neutral): “of Hennessy and Whited (2007).”
- Firm selection and corporate cash holdings (2020, positive): “For example, Hennessy and Whited (2007) estimate a value of 0.”
- Underinvestment vs. overinvestment: Evidence from price reactions to pension contributions (2009, background): “It seems reasonable to believe that this intuition extends to dynamic models in which firms engage in precautionary savings to avoid future financing constraints (Almeida, Campello, and Weisbach, 2004; Whited and Wu, 2006; Hennessy and Whited, 2007).”