Affiliation:
1. Facultat d’Economia Campus dels Tarongers, Universitat de València and ERICES, València, Spain
2. Facultat d’Economia Campus dels Tarongers, Universitat de València, Departamento de Análisis Económico, València, Spain
Abstract
We investigate the role of financial constraints on firms’ exporting behavior, including firms’ export decision, export intensity, firms starting to export decision, and exports persistence. Our financial constraints variable is a synthetic variable that summarizes 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 small and medium-sized enterprises (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. JEL CLASSIFICATION: F14; G32; L60; C35
Funder
ministerio de economía, industria y competitividad, gobierno de españa
agencia estatal de investigación
generalitat valenciana
Subject
Economics and Econometrics,General Business, Management and Accounting,Business and International Management,Strategy and Management
Cited by
8 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献