From: Do investments in human and physical capital respond differently to financing constraints?
Cash flow ratio > mean | Cash flow ratio \(\le\) mean | ||
---|---|---|---|
Financially | Leverage > mean | 1.379 | 2.276 |
constrained (self-reported) | Leverage \(\le\) mean | 0.182 | 1.202 |
Non financially | Leverage > mean | − 0.059 | 0.863 |
constrained (self-reported) | Leverage \(\le\) mean | − 0.964 | − 0.177 |