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Taking the Bad with the Good: Volatility of Foreign Portfolio Investment and Financial Constraints of Small Firms
The author examines the impact of the volatility of foreign portfolio investment on the financial constraints of small firms. Using a dataset of over 195,000 firm-year observations across 53 countries, the author examines the impact of foreign portfolio investment instability on capital issuance and firm growth across countries and firm characteristics, in particular size.
Geography
Link
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=874830