Role of Debt Maturity Structureon Firm Fixed Assets During Sudden Stop Episodes : Evidence From Thailand /

This paper studies the detrimental effect of sudden stops on the growth of Thai firms' fixed assets. We focus on the fixed assets adjustment that firms undertake at times of financial constraints. We derive our results from balance sheet data for 284 nonfinancial Thai listed firms. Our data dem...

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Hlavní autor: Morsy, Hanan
Další autoři: Iannariello, Maria Pia, Terada-Hagiwara, Akiko
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 2007.
Edice:IMF Working Papers; Working Paper ; No. 2007/011
On-line přístup:Full text available on IMF
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100 1 |a Morsy, Hanan. 
245 1 0 |a Role of Debt Maturity Structureon Firm Fixed Assets During Sudden Stop Episodes :   |b Evidence From Thailand /  |c Hanan Morsy, Maria Pia Iannariello, Akiko Terada-Hagiwara. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2007. 
300 |a 1 online resource (27 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper studies the detrimental effect of sudden stops on the growth of Thai firms' fixed assets. We focus on the fixed assets adjustment that firms undertake at times of financial constraints. We derive our results from balance sheet data for 284 nonfinancial Thai listed firms. Our data demonstrate that Thai firms faced severe declines in the growth of their fixed assets starting in 1996. Regression results demonstrate, after controlling for firms' characteristics and lagged dependent variables, that holding longer-term debt maturity structure is the factor that works in the firms' favor during sudden stop episodes, while it is their profitability that matters during tranquil periods. 
538 |a Mode of access: Internet 
700 1 |a Iannariello, Maria Pia. 
700 1 |a Terada-Hagiwara, Akiko. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2007/011 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2007/011/001.2007.issue-011-en.xml  |z IMF e-Library