The influence of economic fluctuations on corporate financing decisions: South African evidence
This paper is concerned with the influence of economic fluctuations on corporate financing decisions. Based on a sample of listed South African companies over the years from 1996 to 2005, our results confirm the existence of different transmission channels through which economic changes are transmitted into financial adjustments. Our results also reveal that companies follow different financial strategies during different business cycle stages and that companies which follow the matching principle and adjust faster to changing market conditions outperform other companies. The last finding implies that a company's 'speed of adjustment' is an important factor that separates more from less successful companies.
If you experience problems downloading a file, check if you have the proper application to view it first. 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.
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.
Volume (Year): 1 (2008)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.inderscience.com/browse/index.php?journalID=214 |
When requesting a correction, please mention this item's handle: RePEc:ids:afasfa:v:1:y:2008:i:2:p:107-128. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Graham Langley)
If references are entirely missing, you can add them using this form.