Small Bank Comparative Advantages in Alleviating Financial Constraints and Providing Liquidity Insurance over Time

2017 ◽  
Vol 30 (10) ◽  
pp. 3416-3454 ◽  
Author(s):  
Allen N. Berger ◽  
Christa H. S. Bouwman ◽  
Dasol Kim
Keyword(s):  
Financial Constraints ◽  
Small Bank ◽  
Comparative Advantages ◽  
Liquidity Insurance ◽  
Over Time

Measuring Firms' Financial Constraints

2020 ◽  
pp. 276-298
Author(s):  
Carlos Carreira ◽  
João Eira ◽  
Filipe Silva
Keyword(s):  
Financial Constraints ◽  
The Other ◽  
Empirical Literature ◽  
Surprising Result ◽  
Firm Level ◽  
Advantages And Disadvantages ◽  
Indirect Measures ◽  
Large Panel ◽  
Over Time

Measuring firms' financial constraints can prove to be a difficult task for researchers because it is not possible to directly observe whether a firm is financially constrained. This chapter surveys the existing methodologies to measure such constraints at firm level, discussing the advantages and disadvantages of each one. In doing so, firstly, the authors review the direct and indirect measures of firms' financial constraints. Then they test the validity of the most commonly used indices using a large panel of (unlisted) Portuguese firms (2010-2017). The FCP index seems to outperform the other indices in capturing financial constraints of unlisted SMEs. This is not a surprising result, as most of the existing empirical literature on the field deals with listed (US) firms. It is not reasonable to expect that the coefficients of indices remain unchanged across countries and over time. Therefore, the authors propose their (re)estimation to apply them to different economies.

scholarly journals The competitiveness and comparative advantage of the Slovak and the EU agri-food trade with Russia and Ukraine

2009 ◽  
Vol 55 (No. 8) ◽  
pp. 375-383 ◽  
Author(s):  
A. Qineti ◽  
M. Rajcaniova ◽  
E. Matejkova
Keyword(s):  
Comparative Advantage ◽  
Significant Variation ◽  
Slovak Republic ◽  
Trade Patterns ◽  
Food Trade ◽  
Trade Specialization ◽  
Comparative Advantages ◽  
Over Time ◽  
Balassa Index ◽  
The Eu

The paper investigates comparative advantages and competitiveness of Slovak and the EU 27 agri-food trade in markets of two countries: Russia and Ukraine. Our aim is to see the dynamics of the agri-food trade for the analyzed countries especially in the post-accession period. Applying a trade dataset from the EUROSTAT and based on the approach applied by Bojnec and Fertő (2006), we describe the pattern of agri-food trade in Slovakia and the EU using the Balassa index. The extent of trade specialization exhibits a declining trend in the country. It has lost comparative advantage for a number of product groups over time. The indices of specialization have tended to converge. For the particular product groups, the indices display a greater variation. They are stable for the product groups with comparative disadvantage, but the product groups with strong comparative advantage show a significant variation. There are also shown different tendencies for different markets i.e. the trade patterns between the Slovak Republic and the EU 27 with Russia and Ukraine.

Financial Needs for a Competitive Business Model in the Knowledge Society

2010 ◽  
Vol 1 (4) ◽  
pp. 69-79 ◽  
Author(s):  
David Castillo-Merino ◽  
Dolors Plana-Erta
Keyword(s):  
Business Model ◽  
Financial Constraints ◽  
Knowledge Society ◽  
Financial Structure ◽  
Original Data ◽  
Investment Model ◽  
Data Set ◽  
Innovative Firms ◽  
The Relationship ◽  
Over Time

This paper investigates the constraints for companies to innovate in order to be competitive in the knowledge society. Using a large and original data set of Catalan firms, the authors have conducted a micro econometric analysis following Henry et al.’s (1999) investment model and von Kalckreuth (2004) methodology empirically contrasting the relationship between firms’ investment spread over time and their financial structure. Results show that it exits a positive and significant relationship between firms’ investment shift and financial structure, emerging financial constraints for more innovative firms. Furthermore, these constraints are higher for micro companies and firms within the knowledge-advanced services’ industry. Finally, the authors find that advanced ICT uses by more innovative firms allow them to reduce constraints of access to sources of finance.

China-Concept Factor and Stock Returns in Taiwan

2008 ◽  
Vol 11 (01) ◽  
pp. 99-122 ◽  
Author(s):  
Chau-Chen Yang ◽  
Cheng-Few Lee ◽  
Yi-Jung Chen ◽  
Ling Hu
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Stock Markets ◽  
Financial Constraints ◽  
Listed Firms ◽  
Common Variation ◽  
Common Shocks ◽  
Over Time

This study investigates whether there is a "China-concept factor", a common variation of stock returns, for firms that are listed in Taiwan stock markets and have real investments in China. We employ a methodology similar to that used by Lamont et al. (2001) in examining whether there is a financial-constraints factor. Listed firms in Taiwan stock markets for the period 1990–2004 are used to form portfolios of firms based on observable characteristics related to their real investments in China. We find that firms investing heavily in China have stock returns moving together over time, which suggests that firms investing in China are subject to common shocks. Firms investing heavily in China are found to exhibit higher average stock returns. There exists a China-concept factor for firms listed in Taiwan stock market and have real investments in China.

scholarly journals The Exclusionary Practices of Youth Sport

2015 ◽  
Vol 3 (3) ◽  
pp. 24-38 ◽  
Author(s):  
Bethan C. Kingsley ◽  
Nancy Spencer-Cavaliere
Keyword(s):  
Young People ◽  
Cultural Capital ◽  
Financial Constraints ◽  
Early Age ◽  
Interpretive Description ◽  
Exclusionary Practices ◽  
Sports Involvement ◽  
Social Settings ◽  
Over Time

Youth who live with lower incomes are known to experience social exclusion in a range of social settings, including sport. Despite efforts to reduce financial constraints to participation, increasing opportunities in these ways has not led to increased involvement. There is a need to move beyond a discussion about barriers and explore the quality of young people’s engagement within sport. The present study consequently sought to understand the sport involvement of young people living with lower incomes. Interpretive description informed the analysis of transcripts generated from interviews with ten youth (aged 13-18 years) and six parents. Three themes captured the ways income had a prominent influence on the sports involvement of young people. Sports settings generally required that young people acquire abilities from an early age and develop these concertedly over time. The material circumstances in which youth were brought up impacted the extent to which they could or wanted to participate in these ways. The final theme outlines the experiences of young people in sport when they possessed less cultural capital than others in the field. The findings of the study collectively highlight a number of interconnected exclusionary processes in sport and demonstrate the need to reimagine sport in ways that challenge the hegemonic discourses continuing to exclude a large number of young people.

Competitiveness of Turkey in the Sectoral Transformation Process

2017 ◽  
pp. 260-278
Author(s):  
Sema Ay ◽  
Hilal Yildirir Keser
Keyword(s):  
Comparative Analysis ◽  
Foreign Trade ◽  
Transformation Process ◽  
Bric Countries ◽  
Agriculture Industry ◽  
Comparative Advantages ◽  
The Subject ◽  
Theoretical Overview ◽  
Over Time

The aim of this study is to measure the competitiveness of Turkey by making a comparative analysis between the Turkish agricultural, industrial, and services sectors involved in foreign trade and the corresponding sectors of the BRIC (Brazil, Russia, India, China) nations. In addition to the determination of their relative competitiveness, assessments will be made about their competitiveness over time by analyzing the direction of the sectoral trends of the above-mentioned countries. In the study, after a brief theoretical overview, a summary of the literature related to the subject is provided, followed by a comparison of the competitiveness of the three sectors (agriculture, industry, and services) made by calculating the revealed comparative advantages (RCAs) of Turkey and the BRIC countries.

scholarly journals Problems of Interregional and Intersectoral Allocation: The Case of Pakistan

1970 ◽  
Vol 10 (1) ◽  
pp. 1-23
Author(s):  
Arthur Macewan
Keyword(s):  
Regional Distribution ◽  
Policy Makers ◽  
Poor Countries ◽  
Political Preferences ◽  
Political Tension ◽  
Comparative Advantages ◽  
Regional Problem ◽  
Distribution Of Resources ◽  
Regional Problems ◽  
Over Time

Many countries have "regional problems". Income and political power are allocated unequally among regions with no significant change over time, and these inequities are a source of political tension. The regional problem in Pakistan is especially severe because the peculiar geographic nature of Pakistan makes the issue so visible1. Economic planners in Pakistan and other poor countries are often as¬signed the task of designing programmes to bring about income parity among regions. In doing so, planners confront several analytic and technical prob¬lems. The principal difficulty is how to allocate resources so as to best conform to political preferences of policy-makers. In this context it is desirable to dis¬cover and exploit the comparative advantages of the regions. Regional com¬parative advantages, in turn, are dependent upon the regional distribution of resources and upon political preferences as to the regional allocation of welfare.

Competitiveness of Turkey in the Sectoral Transformation Process

2020 ◽  
pp. 1649-1668
Author(s):  
Sema Ay ◽  
Hilal Yildirir Keser
Keyword(s):  
Comparative Analysis ◽  
Foreign Trade ◽  
Transformation Process ◽  
Bric Countries ◽  
Agriculture Industry ◽  
Comparative Advantages ◽  
The Subject ◽  
Theoretical Overview ◽  
Over Time

The aim of this study is to measure the competitiveness of Turkey by making a comparative analysis between the Turkish agricultural, industrial, and services sectors involved in foreign trade and the corresponding sectors of the BRIC (Brazil, Russia, India, China) nations. In addition to the determination of their relative competitiveness, assessments will be made about their competitiveness over time by analyzing the direction of the sectoral trends of the above-mentioned countries. In the study, after a brief theoretical overview, a summary of the literature related to the subject is provided, followed by a comparison of the competitiveness of the three sectors (agriculture, industry, and services) made by calculating the revealed comparative advantages (RCAs) of Turkey and the BRIC countries.

Social transmission bias and the cultural evolution of folk-economic beliefs

2018 ◽  
Vol 41 ◽  
Author(s):  
David Hirshleifer ◽  
Siew Hong Teoh
Keyword(s):  
Cultural Evolution ◽  
Social Transmission ◽  
Cognitive Approach ◽  
Economic Problems ◽  
Economic Attitudes ◽  
The Social ◽  
Economic Beliefs ◽  
Over Time

AbstractEvolved dispositions influence, but do not determine, how people think about economic problems. The evolutionary cognitive approach offers important insights but underweights the social transmission of ideas as a level of explanation. The need for asocialexplanation for the evolution of economic attitudes is evidenced, for example, by immense variations in folk-economic beliefs over time and across individuals.

Sign in / Sign up

Export Citation Format

Share Document