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Liberalisation des echanges, rentabilite et levier financier

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  • Baggs, Jennifer
  • Brander, James A.

Abstract

Nous 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.

Suggested Citation

  • Baggs, Jennifer & Brander, James A., 2005. "Liberalisation des echanges, rentabilite et levier financier," Direction des etudes analytiques : documents de recherche 2005256f, Statistics Canada, Direction des etudes analytiques.
  • Handle: RePEc:stc:stcp3f:2005256f
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    Keywords

    Business adaptation and adjustment; Business performance and ownership; Financial statements and performance; International trade; Trade patterns;

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