IDEAS home Printed from https://ideas.repec.org/p/esy/uefcwp/27830.html
   My bibliography  Save this paper

Does Easing Financing Matter for Firm Performance?

Author

Listed:
  • Bose, Udichibarna
  • Mallick, Sushanta
  • Tsoukas, Serafeim

Abstract

Financial reforms have been found to be highly important in promoting aggregate productivity. Yet, the linkage between access to finance, firm-level productivity, and exporting performance has been overlooked in the literature. We fill this gap using a rich dataset of 11,612 Indian firms over the period 1988-2014 to study the impact of a unique financial policy intervention on firm performance. We document a significant effect of capital-account liberalization through the lens of an export-oriented policy initiative on firms’ productivity and consequently on their exporting activity. Finally, the beneficial effect of the policy change is more pronounced for financially vulnerable firms, as measured by high debt dependence and low levels of liquidity.

Suggested Citation

  • Bose, Udichibarna & Mallick, Sushanta & Tsoukas, Serafeim, 2019. "Does Easing Financing Matter for Firm Performance?," Essex Finance Centre Working Papers 27830, University of Essex, Essex Business School.
    • Handle: RePEc:esy:uefcwp:27830
    as

    Download full text from publisher

    File URL: https://repository.essex.ac.uk/27830/
    File Function: original version
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Productivity; Exporting; Financing; FX market liberalization;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:esy:uefcwp:27830. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Nikolaos Vlastakis (email available below). General contact details of provider: https://edirc.repec.org/data/fcessuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.