Using a novel financial data-set which covers an extensive time period between 1995-2012, we test for the impact of currency denomination of bonds on Asian firms' survival probabilities. Our data span two financial crises: the 1997-98 Asian crisis and the 2007-09 global financial crisis. We find...

In this paper we assess the effects of bond financing on firms' survival during the 1997-98 Asian crisis. Using a novel database covering the period 1995 to 2007 for five Asian economies most affected by the crisis - Indonesia, Korea, Malaysia, Singapore and Thailand - we find strong evidence...