A note on a semiparametric approach to estimating financing constraints in firms
(2014)
Journal Article
Bhaumik, S., Kumbhakar, S., & Sun, K. (2014). A note on a semiparametric approach to estimating financing constraints in firms. European Journal of Finance, 21(12), 992-1004. https://doi.org/10.1080/1351847X.2014.906068
In this paper, we present a novel approach to modeling financing constraints of firms. Specifically, we adopt an approach in which firm-level investment is a nonparametric function of some relevant firm characteristics, cash flow in particular. This... Read More about A note on a semiparametric approach to estimating financing constraints in firms.