Liberalisation des echanges, rentabilite et levier financier
AbstractNous examinons si la liberalisation des echanges influe sur la rentabilite et le levier financier a l'aide de donnees canadiennes de la periode ayant suivi l'entree en vigueur de l'Accord de libre-echange entre le Canada et les Etats-Unis. Nous constatons que, en cas de reduction des tarifs nationaux, les benefices diminuent et le levier financier augmente dans les entreprises qui soutiennent la concurrence des importateurs et que, en cas de baisse des tarifs etrangers, les premiers augmentent et le second diminue dans les entreprises d'industries a vocation exportatrice. Ce tableau est conforme a la theorie des pour la structuration du capital.
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Date of creation: 22 Jun 2005
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Business adaptation and adjustment; Business performance and ownership; Financial statements and performance; International trade; Trade patterns;
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