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- Publications
- Influence
Financial Constraints, Asset Tangibility, and Corporate Investment
- H. Almeida, M. Campello
- Business, Economics
- 1 March 2006
When firms are able to pledge their assets as collateral, investment and borrowing become endogenous: pledgeable assets support more borrowings that in turn allow for further investment in pledgeable… Expand
The Real Effects of Financial Constraints: Evidence from a Financial Crisis
- M. Campello, J. Graham, C. Harvey
- Economics, Business
- 11 March 2009
We survey 1,050 CFOs in the U.S., Europe, and Asia to assess whether their firms are credit constrained during the global credit crisis of 2008. We study whether corporate spending plans differ… Expand
Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis
- H. Almeida, M. Campello, Bruno Laranjeira, Scott J. Weisbenner
- Business, Economics
- 1 May 2009
We use the 2007 credit crisis to assess the effect of financial contracting on real corporate behavior. We identify heterogeneity in financial contracting at the onset of the crisis by exploring… Expand
Debt Financing: Does it Boost or Hurt Firm Performance in Product Markets?
- M. Campello
- Economics
- 1 October 2006
Research on capital structure-product market interactions has traditionally sought to establish whether debt financing either hurts or boosts firm performance. This paper proposes that both of these… Expand
Liquidity Management and Corporate Investment During a Financial Crisis
- M. Campello, Erasmo Giambona, J. Graham, C. Harvey
- Business, Economics
- 1 August 2010
This paper uses a unique dataset to study how firms managed liquidity during the financial crisis. Our analysis provides new insights on the interactions between internal liquidity, external funds,… Expand
Customer Concentration and Loan Contract Terms
- M. Campello, J. Gao
- Economics
- 8 March 2016
We study pricing and non-pricing features of loan contracts to gauge how the credit market evaluates a firm’s customer-base profile and supply-chain relations. Higher customer concentration increases… Expand
Corporate Liquidity Management: A Conceptual Framework and Survey
- H. Almeida, M. Campello, Igor Cunha, M. Weisbach
- Economics, Business
- 1 October 2013
Ensuring that a firm has sufficient liquidity to finance valuable projects that occur in the future is at the heart of the practice of financial management. However, although discussion of these… Expand
Firm Balance Sheets and Monetary Policy Transmission
- Adam B. Ashcraft, M. Campello
- Economics
- 1 September 2007
The functioning of internal capital markets in financial conglomerates facilitates a novel identification strategy of the balance sheet channel of monetary policy. We look at small subsidiary banks… Expand
Are Financial Constraints Priced? Evidence from Firm Fundamentals and Stock Returns
- M. Campello, Long Chen
- Economics
- 10 February 2010
Using comprehensive firm- and aggregate-level data, this paper studies the real and financial implications of capital market imperfections. We first examine whether financially constrained firms'… Expand
Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble
- M. Campello, J. Graham
- Economics
- 16 July 2007
Do firms issue stock when prices seem irrationally high? Do they invest or save the proceeds from the sale of overvalued stocks? Is value created or destroyed in the process? This paper uses a novel… Expand