Production smoothing, firms' heterogeneity, and financial constraints: evidence from a panel of UK firms |
| |
Authors: | Guariglia, Alessandra Schiantarelli, Fabio |
| |
Affiliation: | *University of Essex, Department of Economics Wivenhoe Park, Colchester, CO4 3SQ Boston College |
| |
Abstract: | In this paper we provide an empirical analysis of heterogeneityin firms' inventory behavior, using a panel of UK manufacturingfirms. We first investigate how the relative variance of productionand sales differs across firms. We then use variants of thelinear quadratic inventory model in order to analyze potentialheterogeneity in firms' incentives to smooth production. Theresults suggest that incentives to smooth production are notprevalent This conclusion also holds when firms are partitionedaccording to whether they are more or leu likely to face finanrialconstraints. |
| |
Keywords: | |
本文献已被 Oxford 等数据库收录! |
|