In this paper we assess the effects of bond financing on firms' survival during the 1997-98 Asian crisis. Using a novel database covering the period 1995 to 2007 for five Asian economies most affected by the crisis - Indonesia, Korea, Malaysia, Singapore and Thailand - we find strong evidence...

We investigate Korean firms' financing patterns, including debt and equity issuance and capital structure adjustment speed. According to the trade-off theory, firms need to change their capital structure to maximize their value by achieving their optimal capital structures. In the pecking order...