EconPapers    
Economics at your fingertips  
 

Financial constraints and firm exports: accounting for heterogeneity, self-selection, and endogeneity

Angelo Secchi (), Federico Tamagni () and Chiara Tomasi ()

Industrial and Corporate Change, 2016, vol. 25, issue 5, 813-827

Abstract: The article examines the causal effect of financial constraints on firms’ exports. We exploit a firm-level proxy of constraints based on credit ratings and available for a large panel of Italian exporting and non-exporting firms. Our estimation strategy allows to cure for self-selection into exports and endogeneity of financial constraints. At the same time, we can control for unobserved firm fixed effects both in the selection and in the export equation, thus identifying the effect on exports of within-firm changes in financial constraints status. We find that financial constraints produce a sizable reduction in the value of a firm’s foreign sales.

JEL-codes: F10 F14 F36 G20 G32 L25 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1093/icc/dtw033 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Financial constraints and firm exports: accounting for heterogeneity, self-selection and endogeneity (2015)
Working Paper: Financial constraints and firm exports: accounting for heterogeneity, self-selection and endogeneity (2015)
Working Paper: Financial constraints and firm exports: accounting for heterogeneity, self-selection and endogeneity (2015)
Working Paper: Financial constraints and firm exports: accounting for heterogeneity, self-selection and endogeneity (2015)
Working Paper: Financial constraints and firm exports: accounting for heterogeneity, self-selection and endogeneity (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:indcch:v:25:y:2016:i:5:p:813-827.

Ordering information: This journal article can be ordered from
http://www.oup.co.uk/journals

Access Statistics for this article

Industrial and Corporate Change is currently edited by David Teece, Glenn R. Carroll, Nick Von Tunzelmann, Giovanni Dosi and Franco Malerba

More articles in Industrial and Corporate Change from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().

 
Page updated 2020-11-23
Handle: RePEc:oup:indcch:v:25:y:2016:i:5:p:813-827.