Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/300332 
Year of Publication: 
2024
Series/Report no.: 
IFN Working Paper No. 1493
Publisher: 
Research Institute of Industrial Economics (IFN), Stockholm
Abstract: 
We study how financing constraints affect the cash holdings of small and mediumsized enterprises. There has been little empirical work on this topic, even though these firms often face financial constraints. We contribute by using detailed data on credit ratings in Sweden as a measure of financial constraints. We then use panel regressions and a regression-discontinuity analysis to estimate the relationship between access to credit and cash holdings. Our analysis finds no causal effect of credit ratings on cash holdings.
Subjects: 
Financial Constraints
Cash
Private Firm
Credit Score
JEL: 
D22
D25
G32
Document Type: 
Working Paper

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