Brazilian Listed Companies' Financial Constraints

Detalhes bibliográficos
Autor(a) principal: Aldrighi, Dante Mendes
Data de Publicação: 2010
Outros Autores: Bisinha, Rafael
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: https://periodicos.fgv.br/rbe/article/view/1176
Resumo: The paper focuses on evaluating whether Brazilian listed firms have faced financial constraints on their investments. Relying on balance-sheet and stock price data over the period 2001-2005, a panel data analysis is carried out, revealing results different from those initially expected: large firms are more sensitive to cash flows to undertake their investment than smaller ones. Nonetheless, the recent literature provides theoretical rationale to deal with those findings as well as empirical evidence consistent with them.
id FGV-8_5da7e1e81e966934c401583461382d97
oai_identifier_str oai:ojs.periodicos.fgv.br:article/1176
network_acronym_str FGV-8
network_name_str Revista Brasileira de Economia (Online)
repository_id_str
spelling Brazilian Listed Companies' Financial ConstraintsRestrição Financeira em Empresas com Ações Negociadas na BovespaThe paper focuses on evaluating whether Brazilian listed firms have faced financial constraints on their investments. Relying on balance-sheet and stock price data over the period 2001-2005, a panel data analysis is carried out, revealing results different from those initially expected: large firms are more sensitive to cash flows to undertake their investment than smaller ones. Nonetheless, the recent literature provides theoretical rationale to deal with those findings as well as empirical evidence consistent with them.O intento deste trabalho é verificar se empresas com ações negociadas na Bovespa enfrentam restrições financeiras a investimentos. A análise de painel com base em dados de balanço patrimonial e de preços de mercado das ações para o período de 2001 a 2005 revelou que os investimentos das empresas de grande porte apresentam maior dependência aos fluxos de caixa. Esse resultado é discutido à luz de argumentos teóricos e evidências empíricas apresentados pela literatura mais recente.EGV EPGE2010-03-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticlesArtigosapplication/pdfhttps://periodicos.fgv.br/rbe/article/view/1176Revista Brasileira de Economia; Vol. 64 No. 1 (2010); 25-48Revista Brasileira de Economia; v. 64 n. 1 (2010); 25-481806-91340034-7140reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGVporhttps://periodicos.fgv.br/rbe/article/view/1176/1567Aldrighi, Dante MendesBisinha, Rafaelinfo:eu-repo/semantics/openAccess2012-08-16T12:56:58Zoai:ojs.periodicos.fgv.br:article/1176Revistahttps://periodicos.fgv.br/rbe/https://periodicos.fgv.br/rbe/oai||rbe@fgv.br1806-91340034-7140opendoar:2024-03-06T13:03:01.599629Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)true
dc.title.none.fl_str_mv Brazilian Listed Companies' Financial Constraints
Restrição Financeira em Empresas com Ações Negociadas na Bovespa
title Brazilian Listed Companies' Financial Constraints
spellingShingle Brazilian Listed Companies' Financial Constraints
Aldrighi, Dante Mendes
title_short Brazilian Listed Companies' Financial Constraints
title_full Brazilian Listed Companies' Financial Constraints
title_fullStr Brazilian Listed Companies' Financial Constraints
title_full_unstemmed Brazilian Listed Companies' Financial Constraints
title_sort Brazilian Listed Companies' Financial Constraints
author Aldrighi, Dante Mendes
author_facet Aldrighi, Dante Mendes
Bisinha, Rafael
author_role author
author2 Bisinha, Rafael
author2_role author
dc.contributor.author.fl_str_mv Aldrighi, Dante Mendes
Bisinha, Rafael
description The paper focuses on evaluating whether Brazilian listed firms have faced financial constraints on their investments. Relying on balance-sheet and stock price data over the period 2001-2005, a panel data analysis is carried out, revealing results different from those initially expected: large firms are more sensitive to cash flows to undertake their investment than smaller ones. Nonetheless, the recent literature provides theoretical rationale to deal with those findings as well as empirical evidence consistent with them.
publishDate 2010
dc.date.none.fl_str_mv 2010-03-30
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articles
Artigos
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rbe/article/view/1176
url https://periodicos.fgv.br/rbe/article/view/1176
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rbe/article/view/1176/1567
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv EGV EPGE
publisher.none.fl_str_mv EGV EPGE
dc.source.none.fl_str_mv Revista Brasileira de Economia; Vol. 64 No. 1 (2010); 25-48
Revista Brasileira de Economia; v. 64 n. 1 (2010); 25-48
1806-9134
0034-7140
reponame:Revista Brasileira de Economia (Online)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Brasileira de Economia (Online)
collection Revista Brasileira de Economia (Online)
repository.name.fl_str_mv Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rbe@fgv.br
_version_ 1798943112832221184

Registros relacionados