The determinants of financing obstacles

  title={The determinants of financing obstacles},
  author={T. Beck and A. Demirguc-Kunt and L. Laeven and V. Maksimovic},
  journal={Journal of International Money and Finance},
  • T. Beck, A. Demirguc-Kunt, +1 author V. Maksimovic
  • Published 2004
  • Economics
  • Journal of International Money and Finance
  • The authors use survey data on a sample of over 10,000 firms from 80 countries to assess (1) how successful a priori classifications are in distinguishing between financially constrained and unconstrained firms, and (2) more generally, the determinants of financing obstacles of firms. They find that older, larger, and foreign-owned firms report less financing obstacles. Their findings thus confirm the usefulness of size, age, and ownership as a priori classifications of financing constraints… CONTINUE READING
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