Investment and Capital Market Imperfections: Some Evidence from a Developing Economy, India
Published By: MSE on eSS | Published Date: September, 11 , 2007The paper presents a switching regression model of investment decision,
where the probability of a firm facing financial constraint is endogenously
determined. The approach, therefore, obviates the use of a priori criteria
to exogenously identify the financially constrained firms, and thereby
addresses the potential misclassification problem faced in the existing
literature. [Working Paper 23/2007] URL:[http://www.mse.ac.in/pub/Working%20Paper%2023.pdf]
Author(s): Saumitra N Bhaduri | Posted on: Mar 11, 2011 | Views(933) | Download (135)