Fundamental q, cash flow, and investment: evidence from farm panel data
Article Abstract:
Utilization of a 1976-1992 panel data set showed that finance constraints confronted farm machinery investors. The data revealed that during the 1980s and early 1990s, credit constraints became a problem of farm machinery investors. Such problem resulted due to tighter credit and more conservative financial managerial methods. The occurrence of farm business cycles created a strong impact on the investment-cash flow relationships of high-debt and young-operator farms.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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Structural models of the liquidity effect
Article Abstract:
Findings of recent research papers related to liquidity effect are found to be less reliable than the results obtained by original works. Such research papers are found to have utilized estimation instruments that are low in quality. They also contain estimates that can be easily influenced by sample period. Structural coefficient estimates of all the research works evaluated are attainable through the use of instrumental-variable methods.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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