How Long to Read Financial Constraints, Intangible Assets, and Firm Dynamics
By Sophia Chen
How Long Does it Take to Read Financial Constraints, Intangible Assets, and Firm Dynamics?
It takes the average reader and 39 minutes to read Financial Constraints, Intangible Assets, and Firm Dynamics by Sophia Chen
Assuming a reading speed of 250 words per minute. Learn more
Description
I study whether firms' reliance on intangible assets is an important determinant of financing constraints. I construct new measures of firm-level physical and intangible assets using accounting information on U.S. public firms. I find that firms with a higher share of intangible assets in total assets start smaller, grow faster, and have higher Tobin’s q. Asset tangibility predicts firm dynamics and Tobin’s q up to 30 years but has diminishing predicative power. I develop a model of endogenous financial constraints in which firm size and value are limited by the enforceability of financial contracts. Asset tangibility matters because physical and intangible assets differ in their residual value when the contract is repudiated. This mechanism is qualitatively important to explain stylized facts of firm dynamics and Tobin’s q.
How long is Financial Constraints, Intangible Assets, and Firm Dynamics?
Financial Constraints, Intangible Assets, and Firm Dynamics by Sophia Chen is 38 pages long, and a total of 9,804 words.
This makes it 13% the length of the average book. It also has 12% more words than the average book.
How Long Does it Take to Read Financial Constraints, Intangible Assets, and Firm Dynamics Aloud?
The average oral reading speed is 183 words per minute. This means it takes and 53 minutes to read Financial Constraints, Intangible Assets, and Firm Dynamics aloud.
What Reading Level is Financial Constraints, Intangible Assets, and Firm Dynamics?
Financial Constraints, Intangible Assets, and Firm Dynamics is suitable for students ages 8 and up.
Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.
When deciding what to show young students always use your best judgement and consult a professional.
Where Can I Buy Financial Constraints, Intangible Assets, and Firm Dynamics?
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