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The purpose of this work is to verify the existence of financial constraints for investment in Brazil, an emerging market with growing international visibility. Using panel data methodology and GMM, we estimate dynamic investment models based on the Euler equation and Tobin's q for a panel...
Persistent link: https://www.econbiz.de/10013064330
One of the main aims of China's 12th Five-Year Program, which covers the period 2011-15, is to make Chinese industry … to market funding. A government-backed investment company, China Reform Holdings Corporation, has been established to … restructure China's central state-owned enterprises. The next step will be for private-sector capital and foreign capital to be …
Persistent link: https://www.econbiz.de/10013124442
China. Through use of the peer-firm-average idiosyncratic stock return to capture exogenous variation in peer firms …
Persistent link: https://www.econbiz.de/10012855795
Persistent link: https://www.econbiz.de/10012647806
This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a … complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based …
Persistent link: https://www.econbiz.de/10013184745
Persistent link: https://www.econbiz.de/10011986396
pattern of foreign direct investment. Using detailed data from China, we show that foreign-owned affiliates and joint ventures …
Persistent link: https://www.econbiz.de/10013134014
This paper discusses the two-sided relationship between political risks of international activities and a company's financial structure. In addition to earlier studies, looking at political risk exposures as predictors of financial structure only, the analyses explicitly take into consideration...
Persistent link: https://www.econbiz.de/10013160296
In this paper, we analyze the effect of financial uncertainty on corporate investment using firm-level panel data from the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and that the effect is heterogeneous across firms of...
Persistent link: https://www.econbiz.de/10012820828
In this study, we analyse the effect of financial uncertainty on corporate investment using firm-level panel data from the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and that the effect is heterogeneous across firms of...
Persistent link: https://www.econbiz.de/10014491718