NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Do Measures of Financial Constraints Measure Financial Constraints?

Joan Farre-Mensa, Alexander Ljungqvist

NBER Working Paper No. 19551
Issued in October 2013

---- Acknowledgements -----

We are grateful to seminar audiences at HBS, NYU, NCCU, and the IDC Summer Finance Conference for their comments. Ljungqvist gratefully acknowledges the generous hospitality of Harvard Business School while working on this project. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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