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Have We Resolved the Issues regarding International Capital Structure?: Empirical Evidence from the Companies of 30 OECD Countries - Softcover
Inhaltsangabe
Most cross-sectional deviation of international capital structure is caused by the heterogeneities of firm-, industry-, and country-specific determinants rather than by legal environment. In particular, most variations observed from international capital structure arise from the heterogeneity of firm-specific characteristics. Collateral value of assets, firm size, and debt- related tax shield benefit are generally viewed as the most influential factors in determining corporate leverage decision. If the heterogeneities at the level of firm, industry, and country are controlled, the English common-law countries surprisingly appear to rely highly on debt-leverage, whereas the German civil-law countries are likely to be least levered. This finding is contrary to a "received wisdom" in the area of international capital structure. The stylized relationships between firm-specific determinants and capital structure obtained from cross-sectional data are not generalized over time. Under a dynamic setting, the legal environment seems to play a significant role in determining the speed of adjustment of capital structure.
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Reseña del editor
Most cross-sectional deviation of international capital structure is caused by the heterogeneities of firm-, industry-, and country-specific determinants rather than by legal environment. In particular, most variations observed from international capital structure arise from the heterogeneity of firm-specific characteristics. Collateral value of assets, firm size, and debt- related tax shield benefit are generally viewed as the most influential factors in determining corporate leverage decision. If the heterogeneities at the level of firm, industry, and country are controlled, the English common-law countries surprisingly appear to rely highly on debt-leverage, whereas the German civil-law countries are likely to be least levered. This finding is contrary to a "received wisdom" in the area of international capital structure. The stylized relationships between firm-specific determinants and capital structure obtained from cross-sectional data are not generalized over time. Under a dynamic setting, the legal environment seems to play a significant role in determining the speed of adjustment of capital structure.
Biografía del autor
Dr. Song is an assistant professor of Finance at the University of Findlay, Ohio, USA. He has worked for the Maeil Business Newspaper and the LG Economic Research Institute in S. Korea. His research interests are in the areas of asset pricing and behavioral finance. He earned a doctoral degree from the University of Tennessee (Knoxville).
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Have We Resolved the Issues regarding International Capital Structure?
Verlag:
LAP LAMBERT Academic Publishing, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
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Zustand: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Autor/Autorin: Song Dr. Joon-YoungDr. Song is an assistant professor of Finance at the University of Findlay, Ohio, USA. He has worked for the Maeil Business Newspaper and the LG Economic Research Institute in S. Korea. His research interests ar. Bestandsnummer des Verkäufers 5417613
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Have We Resolved the Issues regarding International Capital Structure?
Verlag:
LAP LAMBERT Academic Publishing Jul 2010, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Neu
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Taschenbuch. Zustand: Neu. Neuware -Most cross-sectional deviation of international capital structure is caused by the heterogeneities of firm-, industry-, and country-specific determinants rather than by legal environment. In particular, most variations observed from international capital structure arise from the heterogeneity of firm-specific characteristics. Collateral value of assets, firm size, and debt- related tax shield benefit are generally viewed as the most influential factors in determining corporate leverage decision. If the heterogeneities at the level of firm, industry, and country are controlled, the English common-law countries surprisingly appear to rely highly on debt-leverage, whereas the German civil-law countries are likely to be least levered. This finding is contrary to a 'received wisdom' in the area of international capital structure. The stylized relationships between firm-specific determinants and capital structure obtained from cross-sectional data are not generalized over time. Under a dynamic setting, the legal environment seems to play a significant role in determining the speed of adjustment of capital structure.Books on Demand GmbH, Überseering 33, 22297 Hamburg 100 pp. Englisch. Bestandsnummer des Verkäufers 9783838373096
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Have We Resolved the Issues regarding International Capital Structure? : Empirical Evidence from the Companies of 30 OECD Countries
Verlag:
LAP LAMBERT Academic Publishing, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Neu
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Taschenbuch. Zustand: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - Most cross-sectional deviation of international capital structure is caused by the heterogeneities of firm-, industry-, and country-specific determinants rather than by legal environment. In particular, most variations observed from international capital structure arise from the heterogeneity of firm-specific characteristics. Collateral value of assets, firm size, and debt- related tax shield benefit are generally viewed as the most influential factors in determining corporate leverage decision. If the heterogeneities at the level of firm, industry, and country are controlled, the English common-law countries surprisingly appear to rely highly on debt-leverage, whereas the German civil-law countries are likely to be least levered. This finding is contrary to a 'received wisdom' in the area of international capital structure. The stylized relationships between firm-specific determinants and capital structure obtained from cross-sectional data are not generalized over time. Under a dynamic setting, the legal environment seems to play a significant role in determining the speed of adjustment of capital structure. Bestandsnummer des Verkäufers 9783838373096
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Have We Resolved the Issues regarding International Capital Structure?
Verlag:
LAP LAMBERT Academic Publishing Jul 2010, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
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Taschenbuch. Zustand: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Most cross-sectional deviation of international capital structure is caused by the heterogeneities of firm-, industry-, and country-specific determinants rather than by legal environment. In particular, most variations observed from international capital structure arise from the heterogeneity of firm-specific characteristics. Collateral value of assets, firm size, and debt- related tax shield benefit are generally viewed as the most influential factors in determining corporate leverage decision. If the heterogeneities at the level of firm, industry, and country are controlled, the English common-law countries surprisingly appear to rely highly on debt-leverage, whereas the German civil-law countries are likely to be least levered. This finding is contrary to a 'received wisdom' in the area of international capital structure. The stylized relationships between firm-specific determinants and capital structure obtained from cross-sectional data are not generalized over time. Under a dynamic setting, the legal environment seems to play a significant role in determining the speed of adjustment of capital structure. 100 pp. Englisch. Bestandsnummer des Verkäufers 9783838373096
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Have We Resolved the Issues Regarding International Capital Structure?
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Have We Resolved the Issues Regarding International Capital Structure?
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Have We Resolved the Issues Regarding International Capital Structure?
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ISBN 13: 9783838373096
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