Risk and Market Segmentation in Financial Intermediaries' Returns
β Scribed by Linda Allen; Julapa Jagtiani
- Book ID
- 110256968
- Publisher
- Springer
- Year
- 1997
- Tongue
- English
- Weight
- 165 KB
- Volume
- 12
- Category
- Article
- ISSN
- 0920-8550
No coin nor oath required. For personal study only.
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e development of futures markets in financial instruments has provided fi-T. nancial intermediaries, among others, with a vehicle for hedging against unanticipated changes in interest rates.' Protection against these fluctuations can benefit lending institutions which have exposed themselves to inte
## Abstract This paper extends the literature on finance and investment by examining the source of finance constraints on the firm's investment decisions. Using a panel of 714 Indian manufacturing firms for the period 1993β98, we find that the degree of βfinance constraintβ differs significantly ac