hrcak mascot   Srce   HID

Izvorni znanstveni članak
https://doi.org/10.1515/crebss-2016-0010

Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia

Mislav Šagovac ; Contentio d.o.o., Velika Gorica, Croatia
Luka Šikić ; Institute of Social Sciences Ivo Pilar, Zagreb, Croatia

Puni tekst: engleski, pdf (635 KB) str. 10-29 preuzimanja: 253* citiraj
APA 6th Edition
Šagovac, M. i Šikić, L. (2016). Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia. Croatian Review of Economic, Business and Social Statistics, 2 (2), 10-29. https://doi.org/10.1515/crebss-2016-0010
MLA 8th Edition
Šagovac, Mislav i Luka Šikić. "Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia." Croatian Review of Economic, Business and Social Statistics, vol. 2, br. 2, 2016, str. 10-29. https://doi.org/10.1515/crebss-2016-0010. Citirano 28.07.2021.
Chicago 17th Edition
Šagovac, Mislav i Luka Šikić. "Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia." Croatian Review of Economic, Business and Social Statistics 2, br. 2 (2016): 10-29. https://doi.org/10.1515/crebss-2016-0010
Harvard
Šagovac, M., i Šikić, L. (2016). 'Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia', Croatian Review of Economic, Business and Social Statistics, 2(2), str. 10-29. https://doi.org/10.1515/crebss-2016-0010
Vancouver
Šagovac M, Šikić L. Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia. Croatian Review of Economic, Business and Social Statistics [Internet]. 2016 [pristupljeno 28.07.2021.];2(2):10-29. https://doi.org/10.1515/crebss-2016-0010
IEEE
M. Šagovac i L. Šikić, "Estimation of the firm’s balance sheet channel effects during the economic crisis: Case of Croatia", Croatian Review of Economic, Business and Social Statistics, vol.2, br. 2, str. 10-29, 2016. [Online]. https://doi.org/10.1515/crebss-2016-0010

Sažetak
Economic theory recognizes the importance of the firm’s balance sheet channel.This stands in stark contrast to the neoclassical theory of investment. This paper analyses the response of firms to the economic crisis in the sample of Croatian firms. Our main variables of interest are investment and employment. We estimated the OLS model that accounts for a heterogeneous response to the crisis shock of differently leveraged firms. The empirical model is augmented so that it accounts for industry and county effects. The robustness checks are performed for different dependent as well as control variables and interactions. The results strongly and robustly confirm the importance of the firm’s balance sheet channel.

Ključne riječi
firm balance sheet channel; firm level data; investment equation; investment ratio; robustness check

Hrčak ID: 171042

URI
https://hrcak.srce.hr/171042

Posjeta: 439 *