Globalization and Firms' Financing Choices: Evidence from Emerging Economies

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Globalization and Firms' Financing Choices: Evidence from Emerging Economies by : Sergio L. Schmukler

Download or read book Globalization and Firms' Financing Choices: Evidence from Emerging Economies written by Sergio L. Schmukler and published by International Monetary Fund. This book was released on 2001-08 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the relation between firm's financing choices and financial globalization. Using an East Asian and Latin American firm-level panel for the 1980s and 1990s, we study how leverage ratios, debt maturity structure, and sources of financing change when economies are liberalized and when firms access capital markets. We find that debt-equity rations do not increase after financial liberalization. However, domestic firms that actually participate in international capital markets extend their debt maturity. Financial liberalization has less effects on firms from countries with more developed domestic financial systems. Leverage ratios increase during crises

Globalization and Firms' Financing Choices

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Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Globalization and Firms' Financing Choices by : Sergio L. Schmukler

Download or read book Globalization and Firms' Financing Choices written by Sergio L. Schmukler and published by . This book was released on 2006 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the relation between firm's financing choices and financial globalization. Using an East Asian and Latin American firm-level panel for the 1980s and 1990s, we study how leverage ratios, debt maturity structure, and sources of financing change when economies are liberalized and when firms access international capital markets. We find that debt-equity ratios do not increase after financial liberalization. Debt maturity shortens for the average firm when countries undertake financial liberalization. However, domestic firms that actually participate in international capital markets extend their debt maturity. Financial liberalization has less effects on firms from countries with more developed domestic financial systems. Leverage ratios increase during crises.

Globalization and Firms'Financing Choices - Evidence from Emerging Economies

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Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Globalization and Firms'Financing Choices - Evidence from Emerging Economies by : Christian Grootaert

Download or read book Globalization and Firms'Financing Choices - Evidence from Emerging Economies written by Christian Grootaert and published by . This book was released on 2017 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors investigate whether integration with global markets affects the financing choices of firms from East Asia and Latin America. Using firm-level data for the 1980s and 1990s, they study how leverage ratios, the structure of debt maturity, and sources of financing change when economies are liberalized and when firms gain access to international equity and bond markets. The evidence shows that integration with world financial markets has uneven effects. On the one hand, debt maturity for the average firm shortens when countries undertake financial liberalization. On the other hand, domestic firms that actually participate in international markets, get better financing opportunities, and extend their debt maturity. Moreover, firms in economies with deeper domestic financial systems are affected less by financial liberalization. Finally, they show that leverage ratios increase during times of crisis. In an appendix, they analyze the previously unstudied case of Argentina, which experienced sharp financial liberalization, and was hit hard by all recent global crises.

Globalization ans firms financing choices

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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4./5 ( download)

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Book Synopsis Globalization ans firms financing choices by :

Download or read book Globalization ans firms financing choices written by and published by World Bank Publications. This book was released on with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Globalization and Firms's Financing Choices

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Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (86 download)

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Book Synopsis Globalization and Firms's Financing Choices by : Sergio Schmukler

Download or read book Globalization and Firms's Financing Choices written by Sergio Schmukler and published by . This book was released on 2001 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Effects of Financial Globalization on Developing Countries

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Publisher : International Monetary Fund
ISBN 13 : 9781589062214
Total Pages : 68 pages
Book Rating : 4.0/5 (622 download)

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Book Synopsis Effects of Financial Globalization on Developing Countries by : Mr.Ayhan Kose

Download or read book Effects of Financial Globalization on Developing Countries written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2003-09-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.

GLOBALIZATION AND FIRMS' FINANCING CHOICES: EVIDENCE FROM EMERGING ECONOMIES

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Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis GLOBALIZATION AND FIRMS' FINANCING CHOICES: EVIDENCE FROM EMERGING ECONOMIES by : SERGIO SCHMUKLER AND ESTEBAN VESPERONI

Download or read book GLOBALIZATION AND FIRMS' FINANCING CHOICES: EVIDENCE FROM EMERGING ECONOMIES written by SERGIO SCHMUKLER AND ESTEBAN VESPERONI and published by . This book was released on 2001 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Following the Money

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Publisher : National Academies Press
ISBN 13 : 0309176905
Total Pages : 224 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Following the Money by : National Research Council

Download or read book Following the Money written by National Research Council and published by National Academies Press. This book was released on 1995-10-12 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many questions have been raised about America's status in the increasingly interconnected global economy. Yet key factsâ€"such as the amount of foreign assets abroad owned by U.S. citizensâ€"are not known. The crucial data needed to assess the U.S. position are unavailable. This volume explores significant shortcomings in U.S. data on international capital transactions and their implications for policymakers. The volume offers clearcut recommendations for U.S. agencies to bring data collection and analyses of the global economy into the twenty-first century. The volume explores: How factors emerging since the early 1980s have shaped world financial markets and revealed shortcomings in data collection and analysis. How the existing U.S. data system works and where it fails how measurements of international financial transactions are recorded; and how swaps, options, and futures present special reporting problems. How alternative methods, such as collecting data, from sources such as global custodians and international clearinghouses, might improve coverage and accuracy.

Globalization and International Investment

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Publisher : Taylor & Francis
ISBN 13 : 1351933051
Total Pages : 522 pages
Book Rating : 4.3/5 (519 download)

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Book Synopsis Globalization and International Investment by : Fiona Beveridge

Download or read book Globalization and International Investment written by Fiona Beveridge and published by Taylor & Francis. This book was released on 2017-07-05 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together a broad range of articles on international law and foreign investment which together provide a contemporary overview of the diverse range of issues and perspectives which continue to exercise policy-makers and scholars alike. Central to this collection is the tension between market-oriented reforms on the one hand, raising issues of market access and protection of investors, and corporate social responsibility discourses on the other, raising concerns about environmental protection and respect for human and labour rights. Regional perspectives on these issues reveal differing priorities and approaches.

Deep Integration, Global Firms, and Technology Spillovers

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Publisher : Springer Nature
ISBN 13 : 9811652104
Total Pages : 191 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Deep Integration, Global Firms, and Technology Spillovers by : Naoto Jinji

Download or read book Deep Integration, Global Firms, and Technology Spillovers written by Naoto Jinji and published by Springer Nature. This book was released on 2022 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book explores the impact of deep regional economic integration on spillovers of knowledge and technology across countries. Deep integration through signing deep regional trade agreements (DRTAs), which cover various policy areas in addition to tariff reductions, may or may not facilitate technology spillovers among their signatories. To understand the mechanism of the impact of deep integration on technology spillovers, this book starts by analyzing the behavior of global firms. Factors that affect global firms' activities, such as export, foreign direct investment (FDI), offshore outsourcing, are examined. Micro data on Japanese firms are employed for the analysis. Then, the relationships between bilateral trade patterns and technology spillovers and between types of FDI and technology spillovers are investigated in detail. Patent citation data are used to measure technology spillovers. Finally, the impact of DRTAs on international technology spillovers is analyzed. This book is highly recommended to readers who are interested in the effects of deep regional integration, including academic scholars, policymakers, and graduate students. [Resumen de la editorial]

Capital Market Liberalization and Development

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Publisher : Oxford University Press, USA
ISBN 13 : 0199230587
Total Pages : 388 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Capital Market Liberalization and Development by : Joseph E. Stiglitz

Download or read book Capital Market Liberalization and Development written by Joseph E. Stiglitz and published by Oxford University Press, USA. This book was released on 2008-05 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital market liberalization has been a key part of the ongoing debate on globalization. Bringing together leading researchers and practitioners in the field, this book provides a unique analysis of both the risks associated with capital market liberalization and the alternative policy options available to enhance macroeconomic management.

Globalization: A Very Short Introduction

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Publisher : Oxford University Press
ISBN 13 : 0192589326
Total Pages : 185 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Globalization: A Very Short Introduction by : Manfred B. Steger

Download or read book Globalization: A Very Short Introduction written by Manfred B. Steger and published by Oxford University Press. This book was released on 2020-05-28 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: We live today in an interconnected world in which ordinary people can became instant online celebrities to fans thousands of miles away, in which religious leaders can influence millions globally, in which humans are altering the climate and environment, and in which complex social forces intersect across continents. This is globalization. In the fifth edition of his bestselling Very Short Introduction Manfred B. Steger considers the major dimensions of globalization: economic, political, cultural, ideological, and ecological. He looks at its causes and effects, and engages with the hotly contested question of whether globalization is, ultimately, a good or a bad thing. From climate change to the Ebola virus, Donald Trump to Twitter, trade wars to China's growing global profile, Steger explores today's unprecedented levels of planetary integration as well as the recent challenges posed by resurgent national populism. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Global Corporate Finance

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Publisher : World Scientific Publishing Company
ISBN 13 : 9813108096
Total Pages : 432 pages
Book Rating : 4.8/5 (131 download)

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Book Synopsis Global Corporate Finance by : Kenneth A Kim

Download or read book Global Corporate Finance written by Kenneth A Kim and published by World Scientific Publishing Company. This book was released on 2011-04-27 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Corporate Finance: A Focused Approach introduces students to basic principles of international corporate finance. The book stresses practical applications in a user-friendly format and is hence suitable for both undergraduate and graduate level courses in international finance. A self-contained book combining theory and applications, the text can be used in any part of the world as it takes a global viewpoint. Students will be exposed to key tools and techniques of global corporate finance without a complex treatment of theoretical financial concepts. A test bank and powerpoint slides are available upon request for all instructors who adopt this book as a course text. Please send your request to [email protected].

The Laws of Globalization and Business Applications

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Publisher : Cambridge University Press
ISBN 13 : 1107162920
Total Pages : 413 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis The Laws of Globalization and Business Applications by : Pankaj Ghemawat

Download or read book The Laws of Globalization and Business Applications written by Pankaj Ghemawat and published by Cambridge University Press. This book was released on 2017 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains not only why the world isn't flat but also the patterns that govern cross-border interactions.

The Impact of Globalization on International Finance and Accounting

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Publisher : Springer
ISBN 13 : 331968762X
Total Pages : 484 pages
Book Rating : 4.3/5 (196 download)

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Book Synopsis The Impact of Globalization on International Finance and Accounting by : David Procházka

Download or read book The Impact of Globalization on International Finance and Accounting written by David Procházka and published by Springer. This book was released on 2017-12-29 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments. This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting.

Understanding the Use of Long-term Finance in Developing Economies

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Publisher : International Monetary Fund
ISBN 13 : 1475595751
Total Pages : 28 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Understanding the Use of Long-term Finance in Developing Economies by : Mr.Maria Soledad Martinez Peria

Download or read book Understanding the Use of Long-term Finance in Developing Economies written by Mr.Maria Soledad Martinez Peria and published by International Monetary Fund. This book was released on 2017-04-26 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This short paper reviews recent literature on the use of long-term finance in developing economies (relative to advanced ones) to identify where long-term financing occurs, and what role different financial intermediaries and markets play in extending this type of financing. Although banks are the most important providers of credit, they do not seem to offer long-term financing. Capital markets have grown since the 1990s and can provide financing at fairly long terms. But few firms use these markets. Only some institutional investors provide funding at long-term maturities. Governments might help to expand long-term financing, although with limited policy tools.

Globalization and Poverty

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Publisher : University of Chicago Press
ISBN 13 : 0226318001
Total Pages : 675 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Globalization and Poverty by : Ann Harrison

Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.