{"id":"https://openalex.org/W1964573103","doi":"https://doi.org/10.1111/j.1475-6803.2012.01316.x","title":"DOES FINANCIAL FLEXIBILITY REDUCE INVESTMENT DISTORTIONS?","display_name":"DOES FINANCIAL FLEXIBILITY REDUCE INVESTMENT DISTORTIONS?","publication_year":2012,"publication_date":"2012-06-01","ids":{"openalex":"https://openalex.org/W1964573103","doi":"https://doi.org/10.1111/j.1475-6803.2012.01316.x","mag":"1964573103"},"language":"en","primary_location":{"id":"doi:10.1111/j.1475-6803.2012.01316.x","doi":"https://doi.org/10.1111/j.1475-6803.2012.01316.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1475-6803.2012.01316.x","pdf_url":null,"source":{"id":"https://openalex.org/S74917840","display_name":"The Journal of Financial Research","issn_l":"0270-2592","issn":["0270-2592","1475-6803"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Research","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://hdl.handle.net/11370/8cf12823-c24f-473f-ad74-1d844df55262","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5010030675","display_name":"Abe de Jong","orcid":"https://orcid.org/0000-0002-2809-5465","observed_orcids":["https://orcid.org/0000-0002-2809-5465"]},"institutions":[{"id":"https://openalex.org/I169381384","display_name":"University of Groningen","ror":"https://ror.org/012p63287","country_code":"NL","type":"education","lineage":["https://openalex.org/I169381384"]},{"id":"https://openalex.org/I913958620","display_name":"Erasmus University Rotterdam","ror":"https://ror.org/057w15z03","country_code":"NL","type":"education","lineage":["https://openalex.org/I913958620"]}],"countries":["NL"],"is_corresponding":false,"raw_author_name":"Abe de Jong","raw_affiliation_strings":["Rotterdam School of Management, Erasmus University, the Netherlands, University of Groningen, the Netherlands","SOM I&O"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Rotterdam School of Management, Erasmus University, the Netherlands, University of Groningen, the Netherlands","institution_ids":["https://openalex.org/I169381384","https://openalex.org/I913958620"]},{"raw_affiliation_string":"SOM I&O","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5064120545","display_name":"Marno Verbeek","orcid":"https://orcid.org/0000-0002-4079-6774","observed_orcids":["https://orcid.org/0000-0002-4079-6774"]},"institutions":[{"id":"https://openalex.org/I913958620","display_name":"Erasmus University Rotterdam","ror":"https://ror.org/057w15z03","country_code":"NL","type":"education","lineage":["https://openalex.org/I913958620"]}],"countries":["NL"],"is_corresponding":false,"raw_author_name":"Marno Verbeek","raw_affiliation_strings":["Rotterdam School of Management, Erasmus University, the Netherlands","Rotterdam School of Management, Erasmus University, the Netherlands#TAB#"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Rotterdam School of Management, Erasmus University, the Netherlands","institution_ids":["https://openalex.org/I913958620"]},{"raw_affiliation_string":"Rotterdam School of Management, Erasmus University, the Netherlands#TAB#","institution_ids":["https://openalex.org/I913958620"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5002451583","display_name":"Patrick Verwijmeren","orcid":"https://orcid.org/0000-0002-1437-0665","observed_orcids":["https://orcid.org/0000-0002-1437-0665"]},"institutions":[{"id":"https://openalex.org/I198488067","display_name":"Tinbergen Institute","ror":"https://ror.org/054xxtt73","country_code":"NL","type":"education","lineage":["https://openalex.org/I198488067"]},{"id":"https://openalex.org/I7882870","display_name":"University of Glasgow","ror":"https://ror.org/00vtgdb53","country_code":"GB","type":"education","lineage":["https://openalex.org/I7882870"]},{"id":"https://openalex.org/I887064364","display_name":"University of Amsterdam","ror":"https://ror.org/04dkp9463","country_code":"NL","type":"education","lineage":["https://openalex.org/I887064364"]}],"countries":["GB","NL"],"is_corresponding":false,"raw_author_name":"Patrick Verwijmeren","raw_affiliation_strings":["University Amsterdam, the Netherlands, Duisenberg School of Finance, the Netherlands Tinbergen Institute, the Netherlands, University of Glasgow, United Kingdom","Finance"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University Amsterdam, the Netherlands, Duisenberg School of Finance, the Netherlands Tinbergen Institute, the Netherlands, University of Glasgow, United Kingdom","institution_ids":["https://openalex.org/I198488067","https://openalex.org/I7882870","https://openalex.org/I887064364"]},{"raw_affiliation_string":"Finance","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":3470,"currency":"USD","value_usd":3470},"apc_paid":null,"fwci":12.3878,"has_fulltext":false,"cited_by_count":104,"citation_normalized_percentile":{"value":0.97996624,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":99},"biblio":{"volume":"35","issue":"2","first_page":"243","last_page":"259"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-flexibility","display_name":"financial flexibility","score":0.9959999918937683},{"id":"https://openalex.org/keywords/investment-distortion","display_name":"investment distortion","score":0.8420000076293945},{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.5339999794960022},{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.48899999260902405},{"id":"https://openalex.org/keywords/tax-shields","display_name":"tax shields","score":0.828000009059906},{"id":"https://openalex.org/keywords/bankruptcy-costs","display_name":"bankruptcy costs","score":0.9980000257492065},{"id":"https://openalex.org/keywords/debt-issuance","display_name":"debt issuance","score":0.4830000102519989},{"id":"https://openalex.org/keywords/capital-market-access","display_name":"capital market access","score":0.7160000205039978},{"id":"https://openalex.org/keywords/investment-timing","display_name":"investment timing","score":0.40299999713897705}],"concepts":[{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.7368520498275757},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.7351970672607422},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6441221237182617},{"id":"https://openalex.org/C504631918","wikidata":"https://www.wikidata.org/wiki/Q152074","display_name":"Bankruptcy","level":2,"score":0.6381899118423462},{"id":"https://openalex.org/C2780598303","wikidata":"https://www.wikidata.org/wiki/Q65921492","display_name":"Flexibility (engineering)","level":2,"score":0.5971346497535706},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.573245644569397},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5240959525108337},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5146859288215637},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5108694434165955},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.34775233268737793},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2908168435096741},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0}],"mesh":[],"locations_count":11,"locations":[{"id":"doi:10.1111/j.1475-6803.2012.01316.x","doi":"https://doi.org/10.1111/j.1475-6803.2012.01316.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1475-6803.2012.01316.x","pdf_url":null,"source":{"id":"https://openalex.org/S74917840","display_name":"The Journal of Financial Research","issn_l":"0270-2592","issn":["0270-2592","1475-6803"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial Research","raw_type":"journal-article"},{"id":"pmh:oai:research.vu.nl:openaire_cris_publications/f0ab1349-652f-471d-9868-2c13d1a73c5b","doi":null,"is_oa":false,"landing_page_url":"https://research.vu.nl/en/publications/f0ab1349-652f-471d-9868-2c13d1a73c5b","pdf_url":null,"source":{"id":"https://openalex.org/S4306401107","display_name":"VU Research Portal","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I865915315","host_organization_name":"Vrije Universiteit Amsterdam","host_organization_lineage":["https://openalex.org/I865915315"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"de Jong, A, Verbeek, M & Verwijmeren, P 2012, 'Does financial flexibility reduce investment distortions?', Journal of Financial Research, vol. 35, no. 2, pp. 243-259. https://doi.org/10.1111/j.1475-6803.2012.01316.x","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:eur:oai:pure.eur.nl:publications/3c7296ef-a317-46fd-8b8e-cfd223c78269","doi":null,"is_oa":false,"landing_page_url":"https://pure.eur.nl/en/publications/3c7296ef-a317-46fd-8b8e-cfd223c78269","pdf_url":null,"source":{"id":"https://openalex.org/S4306401266","display_name":"EUR Research Repository (Erasmus University Rotterdam)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I913958620","host_organization_name":"Erasmus University Rotterdam","host_organization_lineage":["https://openalex.org/I913958620"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"The Journal of Financial Research, 35(2), 243 - 259. Wiley-Blackwell Publishing Ltd","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:RePEc:bla:jfnres:v:35:y:2012:i:2:p:243-259","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1111/j.1475-6803.2012.01316.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:dare.ubvu.vu.nl:1871/40860","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/1871/40860","pdf_url":null,"source":{"id":"https://openalex.org/S4306400546","display_name":"Digital Academic REpository of VU University Amsterdam (Vrije Universiteit Amsterdam)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I865915315","host_organization_name":"Vrije Universiteit Amsterdam","host_organization_lineage":["https://openalex.org/I865915315"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"35","raw_type":"Article / Letter to editor"},{"id":"pmh:oai:eprints.gla.ac.uk:65087","doi":null,"is_oa":false,"landing_page_url":"http://eprints.gla.ac.uk/65087/","pdf_url":null,"source":{"id":"https://openalex.org/S4210235606","display_name":"ENLIGHTEN (Jurnal Bimbingan dan Konseling Islam)","issn_l":"2622-8912","issn":["2622-8912","2622-8920"],"is_oa":false,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":"https://openalex.org/I4405259220","host_organization_name":"Institut Agama Islam Negeri Langsa","host_organization_lineage":["https://openalex.org/I4405259220"],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Articles"},{"id":"pmh:oai:pure.eur.nl:openaire_cris_publications/3c7296ef-a317-46fd-8b8e-cfd223c78269","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/1765/37697","pdf_url":null,"source":{"id":"https://openalex.org/S4306401266","display_name":"EUR Research Repository (Erasmus University Rotterdam)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I913958620","host_organization_name":"Erasmus University Rotterdam","host_organization_lineage":["https://openalex.org/I913958620"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"de Jong, A, Verbeek, M & Verwijmeren, P 2012, 'Does financial flexibility reduce investment distortions?', The Journal of Financial Research, vol. 35, no. 2, pp. 243-259. https://doi.org/10.1111/j.1475-6803.2012.01316.x","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:pure.rug.nl:openaire/8cf12823-c24f-473f-ad74-1d844df55262","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/11370/8cf12823-c24f-473f-ad74-1d844df55262","pdf_url":null,"source":{"id":"https://openalex.org/S4306400420","display_name":"University of Groningen research database (University of Groningen / Centre for Information Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I169381384","host_organization_name":"University of Groningen","host_organization_lineage":["https://openalex.org/I169381384"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"de Jong, A, Verbeek, M & Verwijmeren, P 2012, 'Does financial flexibility reduce investment distortions?', Journal of Financial Research, vol. 35, no. 2, pp. 243-259. https://doi.org/10.1111/j.1475-6803.2012.01316.x","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:rug:oai:pure.rug.nl:publications/8cf12823-c24f-473f-ad74-1d844df55262","doi":null,"is_oa":false,"landing_page_url":"https://research.rug.nl/en/publications/8cf12823-c24f-473f-ad74-1d844df55262","pdf_url":null,"source":{"id":"https://openalex.org/S4306400420","display_name":"University of Groningen research database (University of Groningen / Centre for Information Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I169381384","host_organization_name":"University of Groningen","host_organization_lineage":["https://openalex.org/I169381384"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Journal of Financial Research, 35(2), 243 - 259. Wiley-Blackwell","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:rug:oai:pure.rug.nl:publications/c6e9140a-ce21-4e85-92d6-ebcc41595549","doi":null,"is_oa":false,"landing_page_url":"https://research.rug.nl/en/publications/c6e9140a-ce21-4e85-92d6-ebcc41595549","pdf_url":null,"source":{"id":"https://openalex.org/S4306400420","display_name":"University of Groningen research database (University of Groningen / Centre for Information Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I169381384","host_organization_name":"University of Groningen","host_organization_lineage":["https://openalex.org/I169381384"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Journal of Financial Research, 35(2), 243 - 259. Wiley-Blackwell","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:vu:oai:research.vu.nl:publications/f0ab1349-652f-471d-9868-2c13d1a73c5b","doi":null,"is_oa":false,"landing_page_url":"https://research.vu.nl/en/publications/f0ab1349-652f-471d-9868-2c13d1a73c5b","pdf_url":null,"source":{"id":"https://openalex.org/S4306401843","display_name":"Data Archiving and Networked Services (DANS)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1322597698","host_organization_name":"Royal Netherlands Academy of Arts and Sciences","host_organization_lineage":["https://openalex.org/I1322597698"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Journal of Financial Research, 35(2), 243 - 259. Wiley-Blackwell","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"pmh:oai:pure.rug.nl:openaire/8cf12823-c24f-473f-ad74-1d844df55262","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/11370/8cf12823-c24f-473f-ad74-1d844df55262","pdf_url":null,"source":{"id":"https://openalex.org/S4306400420","display_name":"University of Groningen research database (University of Groningen / Centre for Information Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I169381384","host_organization_name":"University of Groningen","host_organization_lineage":["https://openalex.org/I169381384"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"de Jong, A, Verbeek, M & Verwijmeren, P 2012, 'Does financial flexibility reduce investment distortions?', Journal of Financial Research, vol. 35, no. 2, pp. 243-259. https://doi.org/10.1111/j.1475-6803.2012.01316.x","raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":33,"referenced_works":["https://openalex.org/W1517605942","https://openalex.org/W1546523058","https://openalex.org/W1714651000","https://openalex.org/W1978374797","https://openalex.org/W2032205476","https://openalex.org/W2046335969","https://openalex.org/W2065601052","https://openalex.org/W2081113003","https://openalex.org/W2081877581","https://openalex.org/W2095686833","https://openalex.org/W2108359704","https://openalex.org/W2126804458","https://openalex.org/W2139122730","https://openalex.org/W2152081433","https://openalex.org/W2182800976","https://openalex.org/W3022374830","https://openalex.org/W3121156620","https://openalex.org/W3121341217","https://openalex.org/W3121797308","https://openalex.org/W3121869985","https://openalex.org/W3121880194","https://openalex.org/W3123142049","https://openalex.org/W3123443645","https://openalex.org/W3123858671","https://openalex.org/W3124759215","https://openalex.org/W3124967326","https://openalex.org/W3125160976","https://openalex.org/W3125676824","https://openalex.org/W3125688476","https://openalex.org/W3126076569","https://openalex.org/W4230744266","https://openalex.org/W4243268295","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W2118529361","https://openalex.org/W2163624229","https://openalex.org/W3123504823","https://openalex.org/W7099272516","https://openalex.org/W3125942696","https://openalex.org/W2290036589","https://openalex.org/W2941917316","https://openalex.org/W4250483742","https://openalex.org/W7172397087","https://openalex.org/W3047115252"],"abstract_inverted_index":{"Abstract":[0],"The":[1],"average":[2],"U.S.":[3],"firm":[4],"has":[5],"less":[6],"leverage":[7],"than":[8,56],"one":[9],"would":[10],"expect":[11],"based":[12],"on":[13,24],"the":[14,40],"trade\u2010off":[15],"between":[16],"tax":[17],"shields":[18],"and":[19,28],"bankruptcy":[20],"costs.":[21],"We":[22,42],"focus":[23],"firms\u2019":[25],"financial":[26],"flexibility":[27],"examine":[29],"whether":[30],"firms":[31,45,58,65],"preserve":[32],"debt":[33,49,62,79],"capacity":[34,50],"to":[35,69,77,85],"reduce":[36],"investment":[37],"distortions":[38],"in":[39,53,71,80,82],"future.":[41],"find":[43],"that":[44,66],"with":[46,59],"high":[47],"unused":[48,61],"invest":[51],"more":[52,75,89],"future":[54],"years":[55],"do":[57],"low":[60],"capacity.":[63],"Furthermore,":[64],"are":[67,74],"reluctant":[68],"borrow":[70],"unconstrained":[72],"periods":[73,81],"likely":[76],"issue":[78],"which":[83],"access":[84],"capital":[86],"markets":[87],"is":[88],"constrained.":[90]},"counts_by_year":[{"year":2026,"cited_by_count":7},{"year":2025,"cited_by_count":8},{"year":2024,"cited_by_count":11},{"year":2023,"cited_by_count":14},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":11},{"year":2020,"cited_by_count":9},{"year":2019,"cited_by_count":8},{"year":2018,"cited_by_count":10},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":7},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":5}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2016-06-24T00:00:00"}
