Capital Structures in Developing Countries  

Oleh:

Booth, Laurence ; Aivazian, Varouj ; Demirguc-Kunt, Asli ; Maksimovic, Vojislav

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 56 no. 1 (2001), page 87-131.
Topik: countries; studies; capital structure; developing countries; LDCs; statistical analysis; models; many countries
Fulltext: p 87.pdf (178.04KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study uses a new data set to assess whether capital structure theory is portable across countries with different institutional structures. Capital structure choices of firms in 10 developing countries are analyzed, and evidence is provided that these decisions are affected by the same variables as in developed countries. However, there are persistent differences across countries, indicating that specific country factors are at work. The findings suggest that although some of the insights from modern finance theory are portable across countries, much remains to be done to understand the impact of different institutional features on capital structure choices.

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