на главную поиск contacts

Capital Structure Differences among Large Asian Companies

Опубликовано на портале: 21-06-2006
ASEAN Economic Bulletin. 1990.  Vol. 7. No. 1. P. 39-54. 
This article reviews prior research regarding influences on capital structure and reports the results of an empirical study of the capital structures of large Asian companies. Variations with regard to the country, industry, and size of a company are examined for the first time for a sample as large as four hundred and seventy-four companies located in twenty Asian countries. The results of this study indicate that while size does not seem to be a significant influence, both country and industry are significant factors influencing capital structure in Asia. Multinational and diversified companies, therefore, must take these differences into account in developing and setting capital structure, financing, subsidiary evaluation, and management policies for their Asian operations. Bankers, other creditors, and investors also must recognize national differences in debt ratios in order to assess credit and investment risks accurately.
Ключевые слова

См. также:
Michael L. Lemmon, Jaime F. Zender
Working Paper Series (SSRN). 2002. 
Harold Jr. Bierman, K. Chopra, J. Thomas
Journal of Financial and Quantitative Analysis. 1975.  Vol. 10. No. 1. P. 119-129. 
Franck Bancel, Usha R. Mittoo
Financial Management. 2004.  Vol. 33. No. 4. P. 103-132. 
Michael J. Barclay, Clifford W. Smith
Journal of Finance. 1995.  Vol. 50. No. 2. P. 609-631. 
Helen Short, Kevin Keasey, Darren Duxbury
International Journal of the Economics of Business. 2002.  Vol. 9. No. 3. P. 375-399. 
Sreedhar T. Bharath, Paolo Pasquariello, Guojun Wu
Working Paper Series (SSRN). 2006. 
Jeffrey A. Pittman, Kenneth J. Klassen
Journal of American Taxation Association. 2001.  Vol. 23. No. 2. P. 70-94.