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DETERMINANTS OF FINANCIAL CONSTRAINTS: THE EFFECT OF FINANCIAL CRISIS AND HETEROGENEITY ACROSS INDUSTRIES

Nina Ponikvar
Katja Zajc Kejžar
Barbara Morec

Sažetak

Based on the population of Slovenian firms we analyse
the impact of the 2008 financial crisis on the firms’
financial constraints. In line with the theoretical predictions
firm size, ownership, productivity, and export
orientation all impact firm’s financial situation. With
the full onset of the crisis in 2009, financial health
of the foreign firms worsened more compared to
domestic firms, while the availability of financial resources
deteriorated less for more productive firms
and for exporters. Even though firm’s size has a significant
impact on firm’s financial constraint, crisis didn’t
have an additional significant negative effect on firms’
financial distress for all but small firms.

Ključne riječi

financial constraints; industry factors; firm characteristics; economic crisis

Hrčak ID:

133120

URI

https://hrcak.srce.hr/133120

Datum izdavanja:

1.12.2013.

Posjeta: 2.219 *