Leasing Decisions and Credit Constraints: Empirical Analysis on a Sample of Italian Firms

@inproceedings{Cosci2015LeasingDA,
  title={Leasing Decisions and Credit Constraints: Empirical Analysis on a Sample of Italian Firms},
  author={Stefania Cosci and Roberto Guida and Valentina Meliciani},
  year={2015}
}
Although lease financing provides a significant source of funds enabling many companies to invest, few studies examine the determinants of leasing in Continental Europe and we are aware of no study on the Italian case. This paper investigates the relationship between financial constraints and leasing decisions for a sample of Italian firms. In particular, it investigates the determinants of firm leasing decisions, the degree of substitutability between leasing and debt, and the impact of… CONTINUE READING