This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Role of debt maturity on firms´ fixed assets during sudden stop episodes: Evidence from Thailand

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Maria Pia Iannariello (MGM International)
Hanan Morsy (International Monetary Fund)
Akiko Terada-Hagiwara (Bank of Japan)

Additional information is available for the following registered author(s):

Abstract

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 a 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.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www4.cema.edu.ar/pjae/m/155IannMorHAg200711
File Format: application/pdf
File Function:
Download Restriction: Access to full text is restricted to subscribers. Individual articles may be purchased through PayPal.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by Universidad del CEMA in its journal Journal of Applied Economics.

Volume (Year): X (2007)
Issue (Month): (November)
Pages: 309-335
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:cem:jaecon:v:10:y:2007:n:2:p:309-335

Contact details of provider:
Postal: Av. C�rdoba 374, (C1054AAP) Capital Federal
Phone: (5411) 6314-3000
Fax: (5411) 4314-1654
Email:
Web page: http://www.cema.edu.ar/publicaciones/jae.html
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Valeria Dowding).

Related research
Keywords: sudden stops; Thailand; debt maturity structure; Asian financial crisis;

Find related papers by JEL classification:
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
G3 - Financial Economics - - Corporate Finance and Governance

Statistics
Access and download statistics

Did you know? There is a FAQ (frequently asked questions).

This page was last updated on 2009-11-2.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.