Product Market Competition and Financial Decisions During a Financial Crisis

被引：14

作者：

Byoun, Soku ^{[1
]}

Xu, Zhaoxia ^{[2
]}

机构：

[1] Baylor Univ, Hankamer Sch Business, Waco, TX 76798 USA

[2] NYU, Tandon Sch Engn, Dept Finance & Risk Engn, New York, NY USA

来源：

FINANCIAL MANAGEMENT | 2016年 / 45卷 / 02期

关键词：

CONSTRAINTS; BEHAVIOR;

D O I：

10.1111/fima.12096

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We find that in the presence of the flight to quality during the 2007-2008 financial crisis, firms that depended less on external financing (or internal finance dependent (IFD) firms) prior to the crisis were able to secure additional financing and increased investments, while external finance dependent (EFD) firms significantly contracted their external financing and investments. IFD firms' increased investments during the crisis were associated with higher market share growth, while EFD competitors lost their market share. The results indicate that firms' financial decisions during the financial crisis are interrelated with their product market dimensions.

引用

页码：267 / 290

页数：24

共 50 条

[31] Stock Market Returns to Financial Innovations Before and During the Financial Crisis in the United States and Europe
Schoeler, Lisa
Skiera, Bernd
Tellis, Gerard J.
[J]. JOURNAL OF PRODUCT INNOVATION MANAGEMENT, 2014, 31 (05) : 973 - 986
[32] Market and financial factors used to make new product development decisions.
Schroeder, M. E.
[J]. JOURNAL OF NEMATOLOGY, 2006, 38 (02) : 291 - 291
[33] The Assessment of the Global Financial Crisis on Dubai Financial Market Performance
Al Jarouf, Ahmed K.
Al Mansoori, Mohammed
Nooraddin, Suzan
Elshareif, Elgilani Eltahir
[J]. LEADERSHIP, INNOVATION AND ENTREPRENEURSHIP AS DRIVING FORCES OF THE GLOBAL ECONOMY, 2017, : 749 - 759
[34] Bank market power and lending during the global financial crisis
Cubillas, Elena
Suarez, Nuria
[J]. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2018, 89 : 1 - 22
[35] Market response to policy initiatives during the global financial crisis
Ait-Sahalia, Yacine
Andritzky, Jochen
Jobst, Andreas
Nowak, Sylwia
Tamirisa, Natalia
[J]. JOURNAL OF INTERNATIONAL ECONOMICS, 2012, 87 (01) : 162 - 177
[36] TRANSATLANTIC CAPITAL MARKET PRICE DISCOVERY DURING A FINANCIAL CRISIS
Hoag, Christopher
Norman, Stephen
[J]. BULLETIN OF ECONOMIC RESEARCH, 2013, 65 (01) : 1 - 9
[37] The labor market reform in Spain during the international financial crisis
Ojeda, Antonio
Gutierrez, Miguel
[J]. DERECHO PUCP, 2012, (68) : 93 - 129
[38] The market timing skills of hedge funds during the financial crisis
Cave, Arnaud
Hubner, Georges
Sougne, Danielle
[J]. MANAGERIAL FINANCE, 2011, 38 (01) : 4 - +
[39] THE LABOUR MARKET IN THE EUROZONE DURING THE FINANCIAL-ECONOMIC CRISIS
Pompo, Maria
[J]. GLOBAL & LOCAL ECONOMIC REVIEW, 2011, 15 (02): : 51 - 69
[40] Household stock market participation during the great financial crisis
Zhou, Jie
[J]. QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 2020, 75 : 265 - 275

← 1 2 3 4 5 →