A License to Issue Anywhere is popular PDF and ePub book, written by Svetlana Vtyurina in 2017-07-11, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, A License to Issue Anywhere can be Read Online from any device for your convenience.
A License to Issue Anywhere Book PDF Summary
This paper overviews patterns in bond issuance in local and external markets by firms in six large Latin American countries. Data suggest that despite rising issuance, local markets remain small and shallow in several countries. Nevertheless, since greater funding is available to many firms in both markets, we investigate the factors that may explain the firm’s choice on where to issue a bond. Using an unbalanced panel of firm and market-level indicators for years 1995-2015, we control for variables representing several theories of capital structure, and the results show that firm characteristics such as size and liquidity increase the likelihood of firms to issue externally. With respect to market characteristics, the market completeness hypothesis generates the most support, where market scale and depth are most important for the issuer’s choice of the market, suggesting that local markets will have to become deeper to draw more firms and investment.
Detail Book of A License to Issue Anywhere PDF
- Author : Svetlana Vtyurina
- Release : 11 July 2017
- Publisher : International Monetary Fund
- ISBN : 9781484305911
- Genre : Business & Economics
- Total Page : 30 pages
- Language : English
- PDF File Size : 16,9 Mb
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