Exports of Spanish manufacturing firms and financial constraints
Juan A. Mañez and
Óscar Vicente-Chirivella ()
No 1921, Working Papers from Department of Applied Economics II, Universidad de Valencia
We investigate the role of financial constraints on firms’ exporting behaviour, including firms’ export decision, export intensity, firms starting to export decision and exports persistence. Our financial constraints variable is a synthetic variable that summarises information on different dimensions such as total assets, profitability, liquidity, solvency, repaying ability and (new in this type of analyses) the cost of external financing. Using data on Spanish manufacturing for the period 1992-2014, we find evidence supporting that financial health is relevant to explain SMEs exporting decisions and starting to export decisions but not those of large firms. Financial health does not seem to affect large firms’ export intensity and the results of the impact of financial health on SMEs export intensity are not conclusive. Nevertheless, financial health is a determinant of export persistence of large firms and SMEs.
New Economics Papers: this item is included in nep-cfn, nep-eur, nep-int and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
ftp://126.96.36.199/RePEc/pdf/eec_1921.pdf First version, 2019 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eec:wpaper:1921
Access Statistics for this paper
More papers in Working Papers from Department of Applied Economics II, Universidad de Valencia Contact information at EDIRC.
Bibliographic data for series maintained by Vicente Esteve ().