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Libéralisation des échanges, rentabilité et levier financier

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Author Info
Baggs, Jennifer
Brander, James A.

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Abstract

Nous examinons si la libéralisation des échanges influe sur la rentabilité et le levier financier à l'aide de données canadiennes de la période ayant suivi l'entrée en vigueur de l'Accord de libre-échange entre le Canada et les États-Unis. Nous constatons que, en cas de réduction des tarifs nationaux, les bénéfices diminuent et le levier financier augmente dans les entreprises qui soutiennent la concurrence des importateurs et que, en cas de baisse des tarifs étrangers, les premiers augmentent et le second diminue dans les entreprises d'industries à vocation exportatrice. Ce tableau est conforme à la théorie des « préséances » pour la structuration du capital.

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File URL: http://www.statcan.gc.ca/bsolc/olc-cel/olc-cel?catno=11F0019M2005256&lang=fra
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Paper provided by Statistics Canada, Direction des études analytiques in its series Direction des études analytiques : documents de recherche with number 2005256f.

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Date of creation: 22 Jun 2005
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Handle: RePEc:stc:stcp3f:2005256f

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Related research
Keywords: Rendement des entreprises et appartenance; Commerce international; États financiers et rendement; Adaptation et ajustement des entreprises; Structures des échanges;

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