Showing 1 - 10 of 4,057
Persistent link: https://www.econbiz.de/10001741686
We examine the capital structure policies of Korean firms using survey data for business group (chaebol) firms and independent firms. Our results are compared with the findings in the earlier studies for developed economies: Graham and Harvey (2001) for the U.S. and Brounen, De Jong, and Koedijk...
Persistent link: https://www.econbiz.de/10013077357
We study business uncertainty in high- versus low-volatility environments by surveying over 31,000 managers across 41 countries. We elicit subjective probability distributions for future own-firm sales and measure firm-level uncertainty with their mean absolute deviations. Analogously, we...
Persistent link: https://www.econbiz.de/10015071152
This paper investigates whether the Quantitative Easing (QE) program implemented by the Federal Reserve Board after the 2007-2008 global financial crisis affects firms in emerging economies by improving their access to external financing. Our hypothesis relies on the idea that the excess of...
Persistent link: https://www.econbiz.de/10013014717
The purpose of this paper is to investigate the non-linear relationship between working capital management (WCM) and firm profitability (FP). As well as checking whether there is a financial leverage threshold in the decision on working capital, thereby assessing the change in the impact of...
Persistent link: https://www.econbiz.de/10014443896
Persistent link: https://www.econbiz.de/10001654009
Taking listed companies of strategic emerging industries as the research subject, this paper uses KZ index to measure the degrees of financing constraints and financial intermediary as well as the stock market to represent the level of financial development. Then empirical models are constructed...
Persistent link: https://www.econbiz.de/10012270616
This paper analyzes the impact of information and communication technologies (ICT) on economic growth in developing … regressions confirm the positive relationship between ICT capital and GDP growth. The regressions for the subsamples of developing …, emerging and developed countries do not reveal statistically significant differences of the output elasticity of ICT between …
Persistent link: https://www.econbiz.de/10010458249
It is generally agreed that privatization of state-owned enterprises (SOEs) improves economic efficiency, but it is also widely feared that it exacerbates unemployment especially in transition and development economies. This paper proposes a theoretical model of the macroeconomic relationships...
Persistent link: https://www.econbiz.de/10013066765
Investment growth in emerging market and developing economies has slowed sharply since 2010. This paper presents a comprehensive analysis of the causes and implications of this slowdown and presents a menu of policy responses to improve investment growth. It reports four main results. First, the...
Persistent link: https://www.econbiz.de/10012961520