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Grupo de Estudos Monetários e Financeiros

Estudos do GEMF, N.º 14 de 2012


Measuring Firms' Financial Constraints: A Rough Guide

(Publicado em Notas Económicas 36: 23-46, 2012)

Filipe Silva
GEMF, University of Coimbra

Carlos Carreira
GEMF and Faculty of Economics, University of Coimbra

The recent years have been prolific in terms of development of new measures of firms' financial constraints. This paper surveys the main strategies proposed. Additionally, we discuss the key advantages and disadvantages of each measure as well as the data requirements for implementation. Finally, it provides a useful tool for researchers that intend to analyse the impact of constraints on firm behaviour.

JEL Classification: D92; G32; L20.

Financial Constraints; Firms; Survey.

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