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Thin capitalization rules and multinational firm capital structure
Blouin, Jennifer L.; Huizinga, Harry; Laeven, Luc; … - 2014
This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...
Persistent link: https://www.econbiz.de/10010256736
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Emerging market corporate leverage and global financial conditions
Alter, Adrian; Elekdaǧ, Selim Ali - In: The journal of corporate finance : contracting, … 62 (2020), pp. 1-18
Persistent link: https://www.econbiz.de/10012239318
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Selective swap arrangements and the global financial crisis : analysis and interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...
Persistent link: https://www.econbiz.de/10003854615
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Selective swap arrangements and the global financial crisis : analysis and interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...
Persistent link: https://www.econbiz.de/10003840319
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The international monetary (non-)order and the "global capital flows paradoxʺ
Bibow, Jörg (contributor) - 2008
glutʺ observed in the era of advancing financial globalization. The supposed paradox is that the developing world has … States’ position as issuer of the world’s premiere reserve currency and supremacy in global finance explain the related …
Persistent link: https://www.econbiz.de/10003727283
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U.S. Banking Deregulation and Emerging Market Loans : Potential Links and Evidence, 1984~2005
Cho, Hyun Koo - 2017
How did the deregulation of U.S. bank activities affect the patterns of cross-border lending to emerging economies? Unlike bank lending from Europe or Japan, U.S. bank lending to emerging economies exhibited increasing volatility over time. Using U.S. cross-border bank exposure data, this study...
Persistent link: https://www.econbiz.de/10012942735
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Global Imbalances, the U.S. Dollar, and How the Crisis at the Core of Global Finance Spread to 'Self-Insuring' Emerging Market Economies
Bibow, Jörg - 2010
to the collapse in world trade and sharp drop in commodity prices. Things were made worse by emerging markets' exposure …
Persistent link: https://www.econbiz.de/10013145124
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Sensitivity of Emerging Market Bond Fund Flows to US Monetary Stance and Global Risk Aversion
Leung, David - 2019
This note ranks the sensitivities of emerging market economies' (EMEs') bond fund flows to changes in the US monetary stance and global risk aversion. Based on the sensitivities, we draw heat maps to indicate the economies that are more likely to suffer large outflows. We find that bond fund...
Persistent link: https://www.econbiz.de/10012872074
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America First? : a US-centric view of global capital flows
McQuade, Peter; Schmitz, Martin - 2019
with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining "rest of the world" flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …
Persistent link: https://www.econbiz.de/10011975553
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Comparative Relationship between Cost of Equity Capital and Leverage in Matched Sets of Multinational Corporations and U.S. Domestic Firms
Bishnoi, Rahul - 2012
, and the greater likelihood of MNCs, with easier access to world capital markets, experiencing a higher comparative …
Persistent link: https://www.econbiz.de/10013099392