Financial Constraints, Intangible Assets, and Firm Dynamics: Theory and Evidence

Financial Constraints, Intangible Assets, and Firm Dynamics: Theory and Evidence
I study whether firms' reliance on intangible assets is an important determinant of financing constraints. I construct new measures of firm-level physical and intangible assets using accounting information on U.S. public firms. I find that firms with a higher share of intangible assets in total assets start smaller, grow faster, and have higher... READ MORE...

Publication date: May 2014
ISBN 9781484393741
$18.00

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