THE ROLE OF FINANCIAL CAPITAL IN PRODUCTION

Steven Keuning

Review of Income and Wealth, 1999, vol. 45, issue 4, 419-434

Abstract: It is increasingly acknowledged that the financial structure of a firm is an important determinant of its production costs. This paper argues that the use of a firm's liabilities should be seen as a separate input in the production process. At the same time, the input of non‐financial assets is limited to the value that is used up during the reference period. The paper elaborates on these ideas and shows their use in empirical work. It is concluded that the approach set out in this paper establishes a much closer relationship of general economic accounting and analysis to business economics.

Date: 1999
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https://doi.org/10.1111/j.1475-4991.1999.tb00358.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:revinw:v:45:y:1999:i:4:p:419-434

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