Financial Decisions and Investment Outcomes in Developing Countries is popular PDF and ePub book, written by Rima Turk in 2015-02-25, 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, Financial Decisions and Investment Outcomes in Developing Countries can be Read Online from any device for your convenience.
Financial Decisions and Investment Outcomes in Developing Countries Book PDF Summary
This paper analyzes how differences in legal origin, judicial efficiency, and investor protection affect firm leverage and earnings volatility across developing countries. Using a large number of developing countries, four main findings are highlighted. First, firms in civil legal origin countries rely more on debt financing compared to firms in common law countries, and they exhibit lower earnings volatility. Second, under weak judicial enforcement, firms tend to borrow more but they take less risk. Third, stronger creditor rights increase debt financing and reduce earnings volatility. Fourth, firm listing on a developed stock exchange shifts the capital structure towards more equity financing, and it increases the firm’s ability to borrow more when the judicial system is inefficient. The results reinforce the importance of strengthening laws and institutions as well as deepening capital markets in developing countries to improve financing conditions and investment outcomes.
Detail Book of Financial Decisions and Investment Outcomes in Developing Countries PDF
- Author : Rima Turk
- Release : 25 February 2015
- Publisher : International Monetary Fund
- ISBN : 9781498359054
- Genre : Business & Economics
- Total Page : 41 pages
- Language : English
- PDF File Size : 7,7 Mb
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