Determinants and consequences of financial constraints facing firms in Argentina

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Over the last ten years, profound structural changes have occurred in the Argentine economy, including the monetary and exchange rate regimes and the banking sector. In spite of structural reforms and the market friendly environment, evidence shows that financial constraints are still tight and that...

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Autores principales: Fanelli, José M., Bebczuk, Ricardo Néstor, Pradelli, Juan J.
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2001
Materias:
Ciencias Económicas
Models with Panel Data
Investment
Portfolio Choice
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/170161
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-170161
record_format dspace
spelling I19-R120-10915-1701612024-09-13T20:08:47Z http://sedici.unlp.edu.ar/handle/10915/170161 Determinants and consequences of financial constraints facing firms in Argentina Fanelli, José M. Bebczuk, Ricardo Néstor Pradelli, Juan J. 2001-11 2001 2024-09-13T16:34:07Z en Ciencias Económicas Models with Panel Data Investment Portfolio Choice Over the last ten years, profound structural changes have occurred in the Argentine economy, including the monetary and exchange rate regimes and the banking sector. In spite of structural reforms and the market friendly environment, evidence shows that financial constraints are still tight and that market segmentation is important. This research suggests that: (i) credit markets are markedly segmented, (ii) firms are dependent on owned funds; (iii) the volatility of the environment and external shocks affect the firms’ capital structure. We focus on micro data from Stock Exchange and Encuesta Nacional de Grandes Empresas to: (a) present the stylized facts characterizing the capital structure of Argentine firms based on the analysis of balance-sheet items; (b) assess the relevance of financial constraints on investment at the firm level; (c) obtain quantitative evidence of firm’s financial structure and choices; (d) investigate the effects of financial imperfections on different types of firms according to different sample splits; (e) evaluate the effects of macroeconomic volatility and shocks on firms’ financial structure. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Models with Panel Data
Investment
Portfolio Choice
spellingShingle Ciencias Económicas
Models with Panel Data
Investment
Portfolio Choice
Fanelli, José M.
Bebczuk, Ricardo Néstor
Pradelli, Juan J.
Determinants and consequences of financial constraints facing firms in Argentina
topic_facet Ciencias Económicas
Models with Panel Data
Investment
Portfolio Choice
description Over the last ten years, profound structural changes have occurred in the Argentine economy, including the monetary and exchange rate regimes and the banking sector. In spite of structural reforms and the market friendly environment, evidence shows that financial constraints are still tight and that market segmentation is important. This research suggests that: (i) credit markets are markedly segmented, (ii) firms are dependent on owned funds; (iii) the volatility of the environment and external shocks affect the firms’ capital structure. We focus on micro data from Stock Exchange and Encuesta Nacional de Grandes Empresas to: (a) present the stylized facts characterizing the capital structure of Argentine firms based on the analysis of balance-sheet items; (b) assess the relevance of financial constraints on investment at the firm level; (c) obtain quantitative evidence of firm’s financial structure and choices; (d) investigate the effects of financial imperfections on different types of firms according to different sample splits; (e) evaluate the effects of macroeconomic volatility and shocks on firms’ financial structure.
format Objeto de conferencia
Objeto de conferencia
author Fanelli, José M.
Bebczuk, Ricardo Néstor
Pradelli, Juan J.
author_facet Fanelli, José M.
Bebczuk, Ricardo Néstor
Pradelli, Juan J.
author_sort Fanelli, José M.
title Determinants and consequences of financial constraints facing firms in Argentina
title_short Determinants and consequences of financial constraints facing firms in Argentina
title_full Determinants and consequences of financial constraints facing firms in Argentina
title_fullStr Determinants and consequences of financial constraints facing firms in Argentina
title_full_unstemmed Determinants and consequences of financial constraints facing firms in Argentina
title_sort determinants and consequences of financial constraints facing firms in argentina
publishDate 2001
url http://sedici.unlp.edu.ar/handle/10915/170161
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AT bebczukricardonestor determinantsandconsequencesoffinancialconstraintsfacingfirmsinargentina
AT pradellijuanj determinantsandconsequencesoffinancialconstraintsfacingfirmsinargentina
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