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Have We Resolved the Issues regarding International Capital Structure?: Empirical Evidence from the Companies of 30 OECD Countries - Couverture souple
Synopsis
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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Présentation de l'éditeur
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.
Biographie de l'auteur
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?
Edité par
LAP LAMBERT Academic Publishing, 2010
ISBN 10 : 383837309X
ISBN 13 : 9783838373096
Neuf
Couverture souple
Vendeur : moluna, Greven, Allemagne
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Etat : 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. N° de réf. du vendeur 5417613
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Have We Resolved the Issues regarding International Capital Structure? : Empirical Evidence from the Companies of 30 OECD Countries
Edité par
LAP LAMBERT Academic Publishing, 2010
ISBN 10 : 383837309X
ISBN 13 : 9783838373096
Neuf
Taschenbuch
Vendeur : AHA-BUCH GmbH, Einbeck, Allemagne
Évaluation du vendeur 5 sur 5 étoiles
Taschenbuch. Etat : 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. N° de réf. du vendeur 9783838373096
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Have We Resolved the Issues regarding International Capital Structure?
Edité par
LAP LAMBERT Academic Publishing Jul 2010, 2010
ISBN 10 : 383837309X
ISBN 13 : 9783838373096
Neuf
Taschenbuch
Vendeur : BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Allemagne
Évaluation du vendeur 5 sur 5 étoiles
Taschenbuch. Etat : 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. N° de réf. du vendeur 9783838373096
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Have We Resolved the Issues regarding International Capital Structure?
Edité par
LAP LAMBERT Academic Publishing Jul 2010, 2010
ISBN 10 : 383837309X
ISBN 13 : 9783838373096
Neuf
Taschenbuch
Vendeur : buchversandmimpf2000, Emtmannsberg, BAYE, Allemagne
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Taschenbuch. Etat : 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. N° de réf. du vendeur 9783838373096
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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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Vendeur : Books Puddle, New York, NY, Etats-Unis
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Etat : New. pp. 100. N° de réf. du vendeur 26128813569
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Have We Resolved the Issues Regarding International Capital Structure?
Edité par
VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG, 2010
ISBN 10 : 383837309X
ISBN 13 : 9783838373096
Neuf
Couverture souple
Vendeur : Biblios, Frankfurt am main, HESSE, Allemagne
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Etat : New. PRINT ON DEMAND pp. 100. N° de réf. du vendeur 18128813579
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Have We Resolved the Issues Regarding International Capital Structure?
Edité par
VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG, 2010
ISBN 10 : 383837309X
ISBN 13 : 9783838373096
Neuf
Couverture souple
Vendeur : Majestic Books, Hounslow, Royaume-Uni
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Etat : 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. N° de réf. du vendeur 131741150
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