We analyze the extent to which firm size determines the relationship between
growth opportunities and bank debt in the Chilean corporate sector. Using generalized
method of moments (GMM) system estimator techniques in an unbalanced panel data of
quoted firms, we provide evidence of a U-shaped relationship between growth opportunities
and bank debt, which has a different behavior depending on the firm’s size. Smaller firms
seek private debt sooner than larger firms do when growth opportunities increase. This
finding is supported by the institutional characteristics of the Chilean financial system,
the higher confidence of small firms in bank debt, and the bank-based orientation of the
Chilean financial markets
Non-food vendors struggle to reduce customers churn when these shop for consumer goods: From simple coupons to sophisticated big-data-based loyalty systems, modern merchants undertake a range of initiatives to maintain customer loyalty to their stores. At the same time, while consensus exists on the fact that retail brands have the ability to generate store loyalty, this fact has seldom been empirically corroborated. Probably due to this lack of certainty, many non-food retailers use “private label” product strategies as a way to preserve healthy business ratios, such as revenue, contribution margin, operating profit, etc., far from the idea of developing customer loyalty to the store. This constitutes the main objective of our work: To prove the existence of a statistic correlation between Consumers' loyal attitudes and behaviors towards “private labels” and their loyalty towards The Store Brand Name that sponsors these brands.
Non-food vendors struggle to reduce customers churn when these shop for consumer goods: From simple coupons to sophisticated big-data-based loyalty systems, modern merchants undertake a range of initiatives to maintain customer loyalty to their stores. At the same time, while consensus exists on the fact that retail brands have the ability to generate store loyalty, this fact has seldom been empirically corroborated. Probably due to this lack of certainty, many non-food retailers use “private label” product strategies as a way to preserve healthy business ratios, such as revenue, contribution margin, operating profit, etc., far from the idea of developing customer loyalty to the store. This constitutes the main objective of our work: To prove the existence of a statistic correlation between Consumers' loyal attitudes and behaviors towards “private labels” and their loyalty towards The Store Brand Name that sponsors these brands.
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