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Financial Constraints in Investment - Foreign Versus Domestic Firms. Panel Data Results From Estonia, 1995-1999.
dc.contributor.authorMickiewicz, Tomaszen_US
dc.contributor.authorBishop, Kateen_US
dc.contributor.authorVarblane, Urmasen_US
dc.date.accessioned2006-08-01T15:40:33Z
dc.date.available2006-08-01T15:40:33Z
dc.date.issued2004-02-01en_US
dc.identifier.otherRePEc:wdi:papers:2004-648en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/40034en_US
dc.description.abstractUsing data from Estonian manufacturing firms during the period 1995-1999 we apply panel data techniques, in particular the Arellano-Bond (1991) method to investigate the investment behaviour. We employ the model of optimal capital accumulation in the presence of convex adjustment costs. We find that the domestic companies seem to be more financial constrained than those with the presence of foreign investors. Furthermore we find that smaller firms are more constrained than their larger counterparts.en_US
dc.format.extent65766 bytes
dc.format.extent3151 bytes
dc.format.extent646990 bytes
dc.format.mimetypetext/plain
dc.format.mimetypetext/plain
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.relation.ispartofseries648en_US
dc.subjectInvestment, Cash Flow, Foreign Ownership, Firm Size, Estoniaen_US
dc.subject.otherG32, F23, P31, C23en_US
dc.titleFinancial Constraints in Investment - Foreign Versus Domestic Firms. Panel Data Results From Estonia, 1995-1999.en_US
dc.typeWorking Paperen_US
dc.subject.hlbsecondlevelEconomicsen_US
dc.subject.hlbtoplevelBusinessen_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/40034/3/wp648.pdfen_US
dc.owningcollnameWilliam Davidson Institute (WDI) - Working Papers


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