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SUMMARY:The Working Capital Credit Multiplier
DTSTART:20221014T103000
DTEND:20221014T120000
DTSTAMP:20260510T043147Z
UID:68fb49d588b41bcda20ab853792518eb1222d7bdffb90e6b9df3cf02
CATEGORIES:Conferences - Seminars
DESCRIPTION:Heitor Almeida - Gies College of Business\nWe provide novel ev
 idence that funding frictions can limit firms’ short-term investments in
  receivables and inventories\, reducing their production capacity. We prop
 ose a credit multiplier driven by these considerations and empirically iso
 late its importance by comparing how a similar firm responds to shocks dif
 ferently when these shocks are initiated in their most profitable quarter 
 (“main quarter”). We implement this test using recurring and unpredict
 able shocks (e.g.\, oil shocks) and provide extensive evidence supporting 
 our identification strategy. Our results suggest that funding constraints 
 and credit multiplier effects are significant for smaller firms that heavi
 ly rely on financing from suppliers. \n 
LOCATION:UniL Campus\, Room Extra 126
STATUS:CANCELLED
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