How to cite this paper
Viet, H & Quynh, H. (2020). Impact of financial constraints on the development of Vietnam’s firms.Management Science Letters , 10(8), 1683-1692.
Refrences
Almeida, H., Campello, M., & Weisbach, M.S. (2004). The cash flow sensitivity of cash. The Journal of Finance, 59(4), 1777-1804.
Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297. https://doi.org/10.2307/2297968.
Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51.
Ayyagari, M., Demirgüç-Kunt, A., & Maksimovic, V. (2010). Formal versus informal finance: Evidence from China. Re-view of Financial Studies, Society for Financial Studies, 23(8), 3048-3097.
Becchetti, L., & Trovato, G. (2002). The determinants of growth for small and medium sized firms: The role of the availability of external finance. Small Business Economics, 19(4), 291–306.
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143.
Butler, A. W. & Cornaggia, J. (2011). Does access to external finance improve productivity? Evidence from a natural experiment. Journal of Financial Economics, 99(1), 184–203. https://doi.org/10.1016/j.jfineco.2010.08.009
Canh, N. T. (2008). Access to finance of Vietnamese small and medium enterprises. Banking Technology Review, 23, 28-33.
Carpenter, R., & Petersen, B. (2002). Is the growth of small firms constrained by internal finance? The Review of Econom-ics and Statistics, 84(2), 298-309.
Chen, M., & Guariglia, A. (2013). Internal financial constraints and firm productivity in China: Do liquidity and export behavior make a difference?. Journal of Comparative Economics, 41(4), 1123-1140.
Fazzari, S. M., Hubbard, R. G., & Petersen, B. C. (1998). Financing constraints and corporate investment. Brookings Papers on Economic Activity, 1, 141-195.
Fernandes, A. M. (2007). Trade policy, trade volumes and plant-level productivity in Colombian manufacturing industries. Journal of International Economics, 71(1), 52–71. https://doi.org/10.1016/j.jinteco.2006.03.003
Fernando, A., & Ruggieri, A. (2015). Financial constraints and productivity: evidence from euro area companies. ECB Working Paper Series. https://doi.org/10.1111/j.1467-629X.1980.tb00220.x
Ferrando, A., & Ruggieri, A. (2018). Financial constraints and productivity: Evidence from euro area companies. International Journal of Finance & Economics, 23(3), 257-282
Gatti, R., & Love, I. (2008). Does access to credit improve productivity?. The Economics of Transition, 16(3), 445–465. Retrieved from https://ideas.repec.org/a/bla/etrans/v16y2008i3p445-465.html
Guan, Z., & Lansink, A. O. (2006). The source of productivity growth in Dutch agriculture: A Perspective from Finance. The American Journal of Agricultural Economics, 88(3), 644-56.
Guariglia, A., Liu, X., & Song L. (2011). Internal finance and growth: microeconometric evidence on Chinese firms. Jour-nal of Development Economics, 96, 79-94.
Girma, S., & Vencappa, D. (2015). Financing sources and firm level productivity growth: evidence from Indian manufac-turing. Journal of Productivity Analysis, Springer, 44(3), 283-292.
Hadlock, C. J., & Pierce J. R. (2010). New evidence on measuring financial constraints: Moving beyond the KZ index. The Review of Financial Studies, 23(5), 1909–1940.
Jin, M., Zhao, S., & Kumbhakar, S. (2019). Financial constraints and firm productivity: Evidence from Chinese manufacturing. European Journal Of Operational Research, 275(3), 1139-1156.
Kaplan, S. N., & Zingales, L. (1997). Do investment-cash flow sensitivities provide useful measures of financing con-straints?. The Quarterly Journal of Economics, 112(1), 169-215.
Lamont, O., Polk, C., & J. Saa´-Requejo (2001). Financial constraints and stock returns. Review of Financial Studies, 14, 529–544.
Levine, O., & Warusawitharana, M. (2019). Finance and productivity growth: Firm-level evidence. Journal of Monetary Economics.
Levinsohn, J., & Petrin, A. (2003). Estimating production functions using inputs to control for unobservables. Review of Economic Studies, 70(2), 317–341. https://doi.org/10.1111/1467-937X.00246
Li, Y. A., Liao, W., & Zhao, C. C. (2018). Credit constraints and firm productivity: Microeconomic evidence from China. Research in International Business and Finance, Elsevier, 45(C), 134-149.
Moreno, B. M., & Slootmaekers, V. (2009). The Missing Link between Financial Constraints and Productivity (No. WP-09-72).
Mundlak, Y. (1978). On the pooling of time series and cross section data. Econometrica, 46, 69–58.
Musso, P., & Schiavo, S. (2008). The impact of financial constraints on firm survival and growth. Journal of Evolutionary Economics, 1892, 135-149
Nickell, S., & Nicolitsas, D. (1999). How does financial pressure affect firms? European Economic Review, 43, 1435-56.
Nucci, F., Pozzolo, A. F., & Schivardi, F. (2005). Is firm’s productivity related to its financial structure? Evidence from microeconomic data. Rivista di Politica Economica, 1-2, 177-98.
Nunes, P., Sequeira, T., & Serrasqueiro, Z. (2007). Firm’s leverage and labour productivity: a quantile approach in Portuguese firms. Applied Economics, 39(14), 1783-1788.
Olley, G. S., & Pakes, A. (1996). The dynamics of productivity in the telecommunications equipment industry. Econometrica, 64(6), 1263-1297. https://doi.org/10.2307/2171831
Pál, R., & Ferrando, A. (2010). Financing constraints and firms’ cash policy in the euro area. European Journal of Finance, 16(2), 153–171. https://doi.org/10.1080/13518470903075748
Rahaman, M. M. (2010). Access to financing and firm growth. Journal of Banking & Finance, 35, 709-723.
Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. Stata Journal 9, 86-136.
Whited, T. & Wu, G. (2006). Financial constraints risk. Revenue Finance Studies, 19(2), 531–59.
Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297. https://doi.org/10.2307/2297968.
Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51.
Ayyagari, M., Demirgüç-Kunt, A., & Maksimovic, V. (2010). Formal versus informal finance: Evidence from China. Re-view of Financial Studies, Society for Financial Studies, 23(8), 3048-3097.
Becchetti, L., & Trovato, G. (2002). The determinants of growth for small and medium sized firms: The role of the availability of external finance. Small Business Economics, 19(4), 291–306.
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143.
Butler, A. W. & Cornaggia, J. (2011). Does access to external finance improve productivity? Evidence from a natural experiment. Journal of Financial Economics, 99(1), 184–203. https://doi.org/10.1016/j.jfineco.2010.08.009
Canh, N. T. (2008). Access to finance of Vietnamese small and medium enterprises. Banking Technology Review, 23, 28-33.
Carpenter, R., & Petersen, B. (2002). Is the growth of small firms constrained by internal finance? The Review of Econom-ics and Statistics, 84(2), 298-309.
Chen, M., & Guariglia, A. (2013). Internal financial constraints and firm productivity in China: Do liquidity and export behavior make a difference?. Journal of Comparative Economics, 41(4), 1123-1140.
Fazzari, S. M., Hubbard, R. G., & Petersen, B. C. (1998). Financing constraints and corporate investment. Brookings Papers on Economic Activity, 1, 141-195.
Fernandes, A. M. (2007). Trade policy, trade volumes and plant-level productivity in Colombian manufacturing industries. Journal of International Economics, 71(1), 52–71. https://doi.org/10.1016/j.jinteco.2006.03.003
Fernando, A., & Ruggieri, A. (2015). Financial constraints and productivity: evidence from euro area companies. ECB Working Paper Series. https://doi.org/10.1111/j.1467-629X.1980.tb00220.x
Ferrando, A., & Ruggieri, A. (2018). Financial constraints and productivity: Evidence from euro area companies. International Journal of Finance & Economics, 23(3), 257-282
Gatti, R., & Love, I. (2008). Does access to credit improve productivity?. The Economics of Transition, 16(3), 445–465. Retrieved from https://ideas.repec.org/a/bla/etrans/v16y2008i3p445-465.html
Guan, Z., & Lansink, A. O. (2006). The source of productivity growth in Dutch agriculture: A Perspective from Finance. The American Journal of Agricultural Economics, 88(3), 644-56.
Guariglia, A., Liu, X., & Song L. (2011). Internal finance and growth: microeconometric evidence on Chinese firms. Jour-nal of Development Economics, 96, 79-94.
Girma, S., & Vencappa, D. (2015). Financing sources and firm level productivity growth: evidence from Indian manufac-turing. Journal of Productivity Analysis, Springer, 44(3), 283-292.
Hadlock, C. J., & Pierce J. R. (2010). New evidence on measuring financial constraints: Moving beyond the KZ index. The Review of Financial Studies, 23(5), 1909–1940.
Jin, M., Zhao, S., & Kumbhakar, S. (2019). Financial constraints and firm productivity: Evidence from Chinese manufacturing. European Journal Of Operational Research, 275(3), 1139-1156.
Kaplan, S. N., & Zingales, L. (1997). Do investment-cash flow sensitivities provide useful measures of financing con-straints?. The Quarterly Journal of Economics, 112(1), 169-215.
Lamont, O., Polk, C., & J. Saa´-Requejo (2001). Financial constraints and stock returns. Review of Financial Studies, 14, 529–544.
Levine, O., & Warusawitharana, M. (2019). Finance and productivity growth: Firm-level evidence. Journal of Monetary Economics.
Levinsohn, J., & Petrin, A. (2003). Estimating production functions using inputs to control for unobservables. Review of Economic Studies, 70(2), 317–341. https://doi.org/10.1111/1467-937X.00246
Li, Y. A., Liao, W., & Zhao, C. C. (2018). Credit constraints and firm productivity: Microeconomic evidence from China. Research in International Business and Finance, Elsevier, 45(C), 134-149.
Moreno, B. M., & Slootmaekers, V. (2009). The Missing Link between Financial Constraints and Productivity (No. WP-09-72).
Mundlak, Y. (1978). On the pooling of time series and cross section data. Econometrica, 46, 69–58.
Musso, P., & Schiavo, S. (2008). The impact of financial constraints on firm survival and growth. Journal of Evolutionary Economics, 1892, 135-149
Nickell, S., & Nicolitsas, D. (1999). How does financial pressure affect firms? European Economic Review, 43, 1435-56.
Nucci, F., Pozzolo, A. F., & Schivardi, F. (2005). Is firm’s productivity related to its financial structure? Evidence from microeconomic data. Rivista di Politica Economica, 1-2, 177-98.
Nunes, P., Sequeira, T., & Serrasqueiro, Z. (2007). Firm’s leverage and labour productivity: a quantile approach in Portuguese firms. Applied Economics, 39(14), 1783-1788.
Olley, G. S., & Pakes, A. (1996). The dynamics of productivity in the telecommunications equipment industry. Econometrica, 64(6), 1263-1297. https://doi.org/10.2307/2171831
Pál, R., & Ferrando, A. (2010). Financing constraints and firms’ cash policy in the euro area. European Journal of Finance, 16(2), 153–171. https://doi.org/10.1080/13518470903075748
Rahaman, M. M. (2010). Access to financing and firm growth. Journal of Banking & Finance, 35, 709-723.
Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. Stata Journal 9, 86-136.
Whited, T. & Wu, G. (2006). Financial constraints risk. Revenue Finance Studies, 19(2), 531–59.