Investment and financial constraints in Indian firms: Does working capital smoothen fixed investment? (Record no. 49785)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02057nam a2200217 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20180513143050.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 180513b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Altaf, Nufazil |
| 9 (RLIN) | 31601 |
| 245 ## - TITLE STATEMENT | |
| Title | Investment and financial constraints in Indian firms: Does working capital smoothen fixed investment? |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 43-58 p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | The purpose of this paper is twofold, first to examine the investment-cash flow sensitivity in fixed and working capital investments and second to determine the role played by working capital in smoothing fixed investment. The study is based on secondary financial data of 254 Indian manufacturing firms obtained from CAPITALINE database, pertaining to a period of 10 years. This study employs two-step AB difference GMM estimator proposed by Arellano and Bond (Rev Econ Stud 58(2):277–297, 1991) to arrive at results. Results of the study confirm that working capital investment is excessively sensitive to cash flow shocks. Further we found that both fixed and working capital investment in constrained firms are more sensitive to cash flow shocks when compared to unconstrained firm. Furthermore, the fixed investment smoothing is higher in case of constrained firms. The study is a pioneer in testing whether fixed and working capital investments are sensitive to cash flow shocks and how investment-cash flow sensitivity changes with financial constraints of Indian firms. In addition, this study tends to examine the role of working capital in smoothing the fixed investment. Furthermore, this study explains this phenomenon in more detail by focusing on investment smoothing across constrained and unconstrained firms. |
| 653 ## - INDEX TERM--UNCONTROLLED | |
| Uncontrolled term | Fixed investment |
| Uncontrolled term | Working capital investment |
| Uncontrolled term | Financial constraints |
| Uncontrolled term | Investment smoothing |
| Uncontrolled term | India |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Shah, Farooq.Ahmad |
| 9 (RLIN) | 31602 |
| 773 0# - HOST ITEM ENTRY | |
| Host Biblionumber | 29297 |
| Host Itemnumber | 70506 |
| Main entry heading | CHAKRABARTI, BHASKAR |
| Place, publisher, and date of publication | INDIAN INSTITUTE OF MANAGEMENT CALCUTTA CALCUTTA |
| Other item identifier | 5558731 |
| Title | DECISION |
| International Standard Serial Number | 0304-0941 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Journal Article |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Date acquired | Total Checkouts | Full call number | Barcode | Date last seen | Price effective from |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Main Library | Main Library | 13/05/2018 | Vol 45, Issue 1/ 5558731JA3 | 5558731JA3 | 13/05/2018 | 13/05/2018 |