Determinants and Effects of Countries' External Capital Structure : A Firm-Level Analysis /

In this paper, we investigate whether a firm's composition of foreign liabilities matters for their resilience during economic turmoil and examine which characteristics determine a firm's foreign capital structure. Using firm-level data, we corroborate previous findings from the (internati...

Disgrifiad llawn

Manylion Llyfryddiaeth
Prif Awdur: Herman, Uros
Awduron Eraill: Krahnke, Tobias
Fformat: Cylchgrawn
Iaith:English
Cyhoeddwyd: Washington, D.C. : International Monetary Fund, 2022.
Cyfres:IMF Working Papers; Working Paper ; No. 2022/038
Pynciau:
Mynediad Ar-lein:Full text available on IMF
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100 1 |a Herman, Uros. 
245 1 0 |a Determinants and Effects of Countries' External Capital Structure :   |b A Firm-Level Analysis /  |c Uros Herman, Tobias Krahnke. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2022. 
300 |a 1 online resource (40 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 In this paper, we investigate whether a firm's composition of foreign liabilities matters for their resilience during economic turmoil and examine which characteristics determine a firm's foreign capital structure. Using firm-level data, we corroborate previous findings from the (international) macroeconomic literature that the composition of foreign liabilities matters for a country's susceptibility to external shocks. We find that firms with a positive equity share in their foreign liabilities were less affected by the global financial crisis and also less likely to default in the aftermath of the crisis. In addition, we show that larger, more open, and more productive firms tend to have a higher equity share in total foreign liabilities. 
538 |a Mode of access: Internet 
650 7 |a Financial Markets and the Macroeconomy  |2 imf 
650 7 |a International Business  |2 imf 
650 7 |a International Investment  |2 imf 
650 7 |a Long-Term Capital Movements  |2 imf 
650 7 |a Multinational Firms  |2 imf 
700 1 |a Krahnke, Tobias. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2022/038 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2022/038/001.2022.issue-038-en.xml  |z IMF e-Library