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Excess leverage and productivity growth in emerging economies : is there a threshold effect?

Coricelli, Fabrizio; Driffield, Nigel L.; Pal, Sarmistha; … - 2010

The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...

Persistent link: https://www.econbiz.de/10003944314

Firms’ Financing Choices and Firm Productivity : Evidence from an Emerging Economy

Arulraj, Denila Jinny - 2020

Emerging economies can compete in the global markets only through productivity improvements. Most firms in developing … a facilitator of other factors of production. When finance is misallocated, the aggregate productivity and firm … determine access to finance and firm productivity? Does access to finance improve firm productivity? This study attempted to …

Persistent link: https://www.econbiz.de/10012831944

An inverse problem study : credit risk ratings as a determinant of corporate governance and capital structure in emerging markets : evidence from Chinese listed companies

Kang, ManYing; Ausloos, Marcel - In: Economies : open access journal 5 (2017) 4, pp. 1-23

Credit risk rating is shown to be a relevant determinant in order to estimate good corporate governance and to self-optimize capital structure. The conclusion is argued from a study on a selected (and justified) sample of (182) companies listed on the Shanghai Stock Exchange (SHSE) and the...

Persistent link: https://www.econbiz.de/10011778650

How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India

Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016

Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that have been quite critical for both financial development and real economic activity. In this paper, we investigate the success of banking reforms in India where significant banking...

Persistent link: https://www.econbiz.de/10011493763

Why Do Firms Issue Abroad? Lessons from Onshore and Offshore Corporate Bond Finance in Asian Emerging Markets

Mizen, Paul - 2014

Corporate bond issuers in emerging economies in Asia have often had a choice between an onshore market and an offshore one. Since 1998, however, many of these issuers have increasingly turned to the onshore market. This paper investigates systematically what factors have influenced this choice...

Persistent link: https://www.econbiz.de/10013064182

Capital Structure Adjustment in Emerging Markets : Evidence from Vietnam

Arikawa, Yasuhiro; HOANG, Hanh Nguyen - 2022

We examined the adjustment speed of Vietnamese firms’ capital structures using a partial adjustment model. We also analyzed whether firms, depending on their characteristics, primarily use debt or equity to finance new investments. The study results revealed that adjustment speed is very slow...

Persistent link: https://www.econbiz.de/10013308166

The impact of capital structure on bank performance in emerging markets : empirical evidence from GCC countries

Khan, Shoaib - In: Financial internet quarterly 18 (2022) 1, pp. 56-65

The current literature is equivocal and provides inconsistent evidence about the relationship between firms' performance and capital structure choices. This study adds the empirical evi- dence on association between capital structure and bank performance to this inconclusive de- bate. It uses...

Persistent link: https://www.econbiz.de/10013252633

The impact of capital structure on risk and firm performance : empirical evidence for the Bucharest stock exchange listed companies

Nenu, Elena Alexandra; Vintilă, Georgeta; Gherghina, … - In: International Journal of Financial Studies : open … 6 (2018) 2, pp. 1-29

This paper analyzes the evolution of the main theories regarding the capital structure and the related impact on risk and corporate performance. The capital structure is a dynamic process that changes over time, depending on the variables that influence the overall evolution of the economy, a...

Persistent link: https://www.econbiz.de/10011883275

Ownership and Capital Structure in Latin America

Céspedes, Jacelly - 2011

This study evaluates the capital-structure determinants of Latin American firms using a comprehensive sample covering seven countries. Firms in the region have debt levels similar to those of U.S. firms, which is puzzling, given that Latin American firms experience relatively lower tax benefits...

Persistent link: https://www.econbiz.de/10013130468

Financial integration and Emerging Markets Capital Structure

Zhang, Qiyu - 2012

This paper investigates the impact of county-level financial integration on corporate financing choices in emerging economies. Examining 4477 public firms from 24 countries, we find that corporate leverage is positively related to credit market integration, while negatively related to equity...

Persistent link: https://www.econbiz.de/10013116668

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