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suggest that emerging markets post-GFC have lower leverage ratios than the five Asian crisis countries (Asian Five) in the run …-up to the AFC. However, a broader set of emerging market countries show weaker liquidity, solvency, and profitability …
Persistent link: https://www.econbiz.de/10012956862
This paper identifies the combinations between Hofstede’s six cultural aspects and four selected firm-specific factors, which have a significant impact on the choice of capital structure, in 15,821 listed companies from 34 countries in the emerging market, for the period 2012 – 2014. Thirty...
Persistent link: https://www.econbiz.de/10014361507
The objective of this study is to investigate the factors affecting firm competitiveness in an emerging market-Turkey. In the paper, competitiveness is proxied by a firm's financial performance. The empirical analysis is based on firms listed on Borsa Istanbul and covers the period between 2005...
Persistent link: https://www.econbiz.de/10011474465
insufficient. Reducing retained earnings affected by lower profitability level increase corporate long-term debt. Furthermore, the …
Persistent link: https://www.econbiz.de/10012650718
firm profitability (FP). As well as checking whether there is a financial leverage threshold in the decision on working … tween working capital management and corporate profitability; and (ii) at a certain percentage of the debt coefficient … (Impact Threshold), the variables representing working capital management all have a negative impact on the profitability of …
Persistent link: https://www.econbiz.de/10014443896
The paper studies the persistence of profit and its determinants in emerging markets. We apply Markov chain analysis, dynamic panel GMM estimation, and quantile regression techniques to a panel of approximately 3,000 Ukrainian companies. The empirical results show a moderate level of profit...
Persistent link: https://www.econbiz.de/10013158363
examines the determinants of profitability in different firm ownership structures and how different ownership structures impact … the profitability of listed firms between 2003 and 2013, using pooled annual data of 23 Ghanaian listed firms. Employing a … for listed firms given their ownership structures, ownership structures also affected profitability differently …
Persistent link: https://www.econbiz.de/10012866946
This study aims to investigate whether the presence of institutional investors in family-controlled banks impacts their performance and risk. Using detailed data on Indonesian banks from 2001 to 2008 and controlling for various factors, our results first show that family-controlled banks are...
Persistent link: https://www.econbiz.de/10013045161
minority proportion deciding to maintain dividends. Notably, our findings demonstrate that firm profitability is the main … firms reduce dividends by over 70%, profitability emerges as a crucial determinant, thus bolstering the signaling hypothesis …
Persistent link: https://www.econbiz.de/10014496664
This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...
Persistent link: https://www.econbiz.de/10010518789