Original title: Financial development and allocation of external finance
Authors: Bena, Jan ; Ondko, P.
Document type: Papers
Conference/Event: 27th International Conference Mathematical Methods in Economics 2009, Kostelec nad Černými lesy (CZ), 2009-09-09 / 2009-09-11
Year: 2009
Language: eng
Abstract: We investigate the role of financial system to facilitate efficient allocation of resources into perspective projects. Employing micro-level data on European firms in 1996-2005 period, we provide evidence that firms in industries with the best growth opportunities use more external finance in financially more developed countries.
Keywords: allocation of resources; external finance; financial system
Project no.: CEZ:AV0Z70850503 (CEP)
Host item entry: Proceedings of 27th International Conference Mathematical Methods in Economics 2009, ISBN 978-80-213-1963-9

Institution: Economics Institute AS ČR (web)
Document availability information: Fulltext is available at the institute of the Academy of Sciences.
Original record: http://hdl.handle.net/11104/0183923

Permalink: http://www.nusl.cz/ntk/nusl-41328


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