Despite declining in 2001, foreign direct investment (FDI) surged during the 1990s. As a result, current levels of FDI flows are triple their 1990 levels. It is well documented in the literature that FDI occurs in large part among countries that are geographically close. It is also well...

While it is commonly believed that companies issue non-current debt in order to finance capital expenditures, the relationship among these two variables is in practice much more complicated, and it depends on the overall real and financial flows related to companies' activity. Looking at such...

This paper aims to examine whether effective tax rate and firm-specific factors (such as firm size, growth opportunities, tangibility, risk, profitability, non-debt tax shields and liquidity) impact the capital structure of multinational firms in the energy sector. We employ regression models...