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dc.contributor.authorGuariglia, Alessandraen
dc.contributor.authorLiu, Xiaoxuanen
dc.contributor.authorSong, Linaen
dc.date.accessioned2008-11-11-
dc.date.accessioned2010-07-07T11:54:06Z-
dc.date.available2010-07-07T11:54:06Z-
dc.date.issued2008-
dc.identifier.piurn:nbn:de:101:1-20081126830en
dc.identifier.urihttp://hdl.handle.net/10419/35627-
dc.description.abstractDoes the availability of internal finance constrain firm growth? Or does it foster it? To answer these questions, we use a panel of 407,096 Chinese firms over the period 2000-2005. We estimate dynamic assets growth equations augmented with cash flow, and find that the growth of state owned enterprises is not affected by cash flow, while that of privately owned firms is most affected. Considering that they represent 62% of the observations in our sample and that, in spite of being typically discriminated against by financial institutions, private firms have experienced sensational growth rates, our results suggest that internal finance has fostered rather than constrained their growth.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x3808en
dc.subject.jelD92en
dc.subject.ddc330en
dc.subject.keywordAssets growthen
dc.subject.keywordcash flowen
dc.subject.keywordfinancial constraintsen
dc.subject.stwUnternehmensfinanzierungen
dc.subject.stwSelbstfinanzierungen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwUnternehmenswachstumen
dc.subject.stwChinaen
dc.titleInternal finance and growth: microeconometric evidence on Chinese firms-
dc.type|aWorking Paperen
dc.identifier.ppn584698879en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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