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Alberto, Zazzaro ; Alberto, Zazzaro ; Sandro, Rondinella ; Tommaso, Oliviero ; Tommaso, Oliviero. (2024) Are green firms more financially constrained? The sensitivity of investment to cash flow.
In: CSEF Working Papers. RePEc:sef:csefwp:700.
Full description at Econpapers
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Estimations are carried out by using the two-step SYS GMM estimator (Arellano and Bover, 1995; Blundell and Bond, 1998). For the description of the variables, see Table 1. The dependent variable is INVESTMENT. Superscripts ***, ** and * denote statistical significance at the 1, 5 and 10 percent level, respectively. Robust standard errors are given in italics. Tests for the first and second order autocorrelation (AR(1) and AR(2)), and the Hansen test of overidentifying restrictions are reported.
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