Guariglia, A., Tsoukalas, J. and Tsoukas, S. (2012) Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies. Economics Letters, 117(3), pp. 582-584. (doi: 10.1016/j.econlet.2012.07.031)
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Abstract
We investigate the link between investment-cash flow sensitivities and irreversibility in a panel of unlisted firms from transition economies. We observe that only firms facing low irreversibility exhibit high and precisely determined sensitivities. Our findings provide a new explanation for why some financially constrained firms may exhibit low sensitivities.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Tsoukalas, Professor John and Tsoukas, Professor Serafeim |
| Authors: | Guariglia, A., Tsoukalas, J., and Tsoukas, S. |
| Subjects: | H Social Sciences > HG Finance |
| College/School: | College of Social Sciences > Adam Smith Business School > Economics |
| Journal Name: | Economics Letters |
| ISSN: | 0165-1765 |
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