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Determinants of the development of corporate bond markets in Argentina: survey to firms and investors

Author

Listed:
  • María Alegre
  • Sergio Pernice
  • Jorge M. Streb

Abstract

Conventional theory leads to expect bonds to be a financing vehicle for large firms because of economies of scale and contracting costs. In this paper we present the results for Argentina of a survey of firms and of investors on the use of corporate bonds. The result of these surveys supports the idea that for Argentine firms, bonds are a financing vehicle of choice only for firms above a certain (large) size. This is independent of the criteria used for firm size. This result is similar to results in other countries such as the United Sates.

Suggested Citation

  • María Alegre & Sergio Pernice & Jorge M. Streb, 2007. "Determinants of the development of corporate bond markets in Argentina: survey to firms and investors," CEMA Working Papers: Serie Documentos de Trabajo. 345, Universidad del CEMA.
    • Handle: RePEc:cem:doctra:345
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    File URL: https://www.ucema.edu.ar/publicaciones/download/documentos/345.pdf
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    Cited by:

    1. Roque B. Fernández & Sergio Pernice & Jorge M. Streb, 2007. "Determinants of the development of corporate bond markets in Argentina: One size does not fit all," CEMA Working Papers: Serie Documentos de Trabajo. 348, Universidad del CEMA.

    More about this item

    Keywords

    debt structure; leverage; short-term debt; corporate bonds; firm size; firm value;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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