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Pré-Publication, Document De Travail Année : 2020

Investment Sensitivity to Inter-enterprises Payment Deadlines

Résumé

This paper investigates the determinants of firms investment financing constraints. Using an endogenous switching regression model on French Provence-Alpes Côte d'Azur region firms data collected between 2005-2014, we provide a novel evidence of the role of inter-enterprises payment deadlines which are days receivable outstanding and days payable outstanding, as factors determining rms investment nancing constraints. We also show that there is a non-negligible number of firms switching each year either from constrained regime to unconstrained regime or unconstrained regime to constrained one. By developing a model, we highlight the factors determining firms regime change.
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Dates et versions

hal-02889436 , version 1 (03-07-2020)

Identifiants

  • HAL Id : hal-02889436 , version 1

Citer

Aissata Boubacar Moumouni. Investment Sensitivity to Inter-enterprises Payment Deadlines. 2020. ⟨hal-02889436⟩
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