This paper investigates the impact of county-level financial integration on corporate financing choices in emerging economies. Examining 4477 public firms from 24 countries, we find that corporate leverage is positively related to credit market integration, while negatively related to equity...

This paper examines the timing behaviour of firms in the UK. We estimate intrinsic value of firms' equities and find that managers do indeed time security issue which leads them to deviate away from target leverage levels. We further find that equity mispricing influences issue decisions as well...

Financial crisis in some developing country have affected Indonesia as a developing country as well. It changes business climate that force firms finds additional funding sources. Improper capital structure policy will give negative signal to investors about firm’s financial performance and...