Taking the bad with the good: volatility of foreign portfolio investment and financial constraints of small firms (Record no. 296728)

MARC details
000 -LEADER
fixed length control field 01951nam a2200205Ia 4500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 140323b2005 xxu||||| |||| 00| 0 eng d
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 332.673
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Knill, April M.
9 (RLIN) 29840
245 ## - TITLE STATEMENT
Title Taking the bad with the good: volatility of foreign portfolio investment and financial constraints of small firms
Statement of responsibility, etc. Knill, April M.
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. Washington, D.C.
Name of publisher, distributor, etc. World Bank
Date of publication, distribution, etc. 2005
300 ## - PHYSICAL DESCRIPTION
Extent 48 p.
440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE
Title Policy research working paper, no. 3797
9 (RLIN) 29854
500 ## - GENERAL NOTE
General note Includes bibliographical references.
520 ## - SUMMARY, ETC.
Summary, etc. The author examines the impact of the volatility of foreign portfolio investment on the financial constraints of small firms. Using a data set of over 195,000 firm-year observations across 53 countries, she examines the impact of foreign portfolio investment instability on capital issuance and firm growth across countries and firm characteristics, in particular size. After controlling for the endogeneity of foreign portfolio investment instability, as well as for firm-, industry-, and country-level characteristics such as GDP growth, as well as the levels of foreign portfolio and direct investment, the author finds that the volatility of foreign portfolio investment is only significantly associated with a decreased ability to issue publicly-traded securities for small firms in years when nations are considered less ""creditworthy."" The volatility of foreign portfolio investment only hinders the growth of small firms significantly in periods when nations are deemed less ""creditworthy."" These results underscore both the significance of a good financial system that minimizes capital flow volatility, as well as the influence of property rights and country creditworthiness to instill confidence in foreign investors. ""--World Bank web site."
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Foreign investments
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Portfolio management
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Small business
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Book
Holdings
Withdrawn status Lost status Source of classification or shelving scheme Damaged status Not for loan Home library Current library Shelving location Date acquired Total Checkouts Full call number Barcode Date last seen Price effective from Koha item type
    Dewey Decimal Classification     Ahmedabad Ahmedabad   04/05/2009   332.673 K6T2 162597 04/09/2009 04/09/2009 Book

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