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Have We Resolved the Issues regarding International Capital Structure?: Empirical Evidence from the Companies of 30 OECD Countries - Tapa blanda
Sinopsis
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?
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LAP LAMBERT Academic Publishing Jul 2010, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
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Librería: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Alemania
Calificación del vendedor: 5 de 5 estrellas
Taschenbuch. Condición: 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. Nº de ref. del artículo: 9783838373096
Cantidad disponible: 2 disponibles
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Have We Resolved the Issues regarding International Capital Structure?
Publicado por
LAP LAMBERT Academic Publishing, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Nuevo
Tapa blanda
Librería: moluna, Greven, Alemania
Calificación del vendedor: 5 de 5 estrellas
Condición: 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. Nº de ref. del artículo: 5417613
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Have We Resolved the Issues regarding International Capital Structure? : Empirical Evidence from the Companies of 30 OECD Countries
Publicado por
LAP LAMBERT Academic Publishing, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Nuevo
Taschenbuch
Librería: AHA-BUCH GmbH, Einbeck, Alemania
Calificación del vendedor: 5 de 5 estrellas
Taschenbuch. Condición: 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. Nº de ref. del artículo: 9783838373096
Cantidad disponible: 1 disponibles
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Have We Resolved the Issues Regarding International Capital Structure?
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VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
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Librería: Books Puddle, New York, NY, Estados Unidos de America
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Condición: New. pp. 100. Nº de ref. del artículo: 26128813569
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Have We Resolved the Issues Regarding International Capital Structure?
Publicado por
VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Nuevo
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Librería: Majestic Books, Hounslow, Reino Unido
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Condición: New. Print on Demand pp. 100 2:B&W 6 x 9 in or 229 x 152 mm Perfect Bound on Creme w/Gloss Lam. Nº de ref. del artículo: 131741150
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Have We Resolved the Issues regarding International Capital Structure?
Publicado por
LAP LAMBERT Academic Publishing Jul 2010, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Nuevo
Taschenbuch
Librería: buchversandmimpf2000, Emtmannsberg, BAYE, Alemania
Calificación del vendedor: 5 de 5 estrellas
Taschenbuch. Condición: 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. Nº de ref. del artículo: 9783838373096
Cantidad disponible: 2 disponibles
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Have We Resolved the Issues Regarding International Capital Structure?
Publicado por
VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG, 2010
ISBN 10: 383837309X
ISBN 13: 9783838373096
Nuevo
Tapa blanda
Librería: Biblios, Frankfurt am main, HESSE, Alemania
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Condición: New. PRINT ON DEMAND pp. 100. Nº de ref. del artículo: 18128813579
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