内容提要: 本文使用1998-2008 年中国非上市公司工业企业数据, 分析了融资约束,
营运资本管理与企业创新活动之间的关系, 旨在解释中国企业自上世纪末至今持续增加的创新 …

Over the past decade, a number of researchers have extended conventional models of
business fixed investment to incorporate a role for financial constraints' in determining …

This essay surveys the body of research that asks how the efficiency of corporate investment
is influenced by problems of asymmetric information and agency. I organize the material …

本文利用大样本微观企业数据, 考察了转型背景下融资约束对中国企业R&D 投入的影响,
识别了企业R&D 投入的融资渠道及存在的问题. 研究发现, 融资约束对民营企业R&D …

本文旨在剖析宏观金融发展对微观经济实体融资约束的影响, 从而为金融发展对经济增长的促进
作用提供微观证据. 基于2001—2006 年中国制造业上市公司的研究样本, 实证研究发现: ① …

This paper investigates the impact of local banks and digital financial inclusion on Small and
Medium-sized Enterprise (SME) financing constraints. Using data from Chinese SMEs for …

We quantify the role of financial leverage behind the sluggish post-crisis investment
performance of European firms. We use a cross-country firm-bank matched database to …

This chapter discusses how applied researchers in corporate finance can address
endogeneity concerns. We begin by reviewing the sources of endogeneity—omitted …

This paper investigates the effect of anti-corruption on the financing of and investing in
innovation by using a detailed data set of Chinese listed companies from 2009 to 2015. We …

Using euro area firm-level data since the recent financial crisis, we test whether bank
lending constrained small-and medium-sized enterprises (SMEs) are more likely to use or …