Capital Structure, Rates of Return and Financing Corporate Growth: Comparing Developed and Emerging Markets, 1994-00
AbstractFirm level data from financial statements for nearly 8,000 listed companies in 22 emerging and 22 developed countries over the period 1994-00 are examined. Capital structure, asset structure, rates of return and financing patterns are compared across countries and over time. Generally, there are as many similarities as differences between the two groups. The differences include lower levels of debt to finance assets and lower levels of current assets in emerging markets compared with developed countries. Returns on assets, expressed in local currency, are comparable in the two groups but appear more volatile in emerging markets. Capital Structure, Rates of Return and Financing Corporate Growth: Evidence from Developed and Emerging Markets, 1994-00
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Bibliographic InfoPaper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp265.
Date of creation: Jun 2003
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Web page: http://www.cbr.cam.ac.uk/
Liberalisation; Competitive Shocks; Firm growth; Turbulence; Market structure; India JEL Classification: G3; F36; L1; O16;
Find related papers by JEL classification:
- Ind - Health, Education, and Welfare - - - - -
- JEL - Labor and Demographic Economics - - - - -
- Cla - Mathematical and Quantitative Methods - - - - -
- G3 - Financial Economics - - Corporate Finance and Governance
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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