| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14961 |
| 来源ID | Working Paper 14961 |
| Patterns of International Capital Raisings | |
| Juan Carlos Gozzi; Ross Levine; Sergio L. Schmukler | |
| 发表日期 | 2009-05-15 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper documents several new patterns associated with firms issuing stocks and bonds in foreign markets that motivate the need for and help guide the direction of future research. Three major patterns stand out. (1) A large and growing fraction of capital raisings, especially debt issuances, occurs in international markets, but a very small number of firms accounts for the bulk of international capital raisings, highlighting the cross-firm heterogeneity in financial globalization. (2) Changes in firm performance following equity and debt issuances in international markets are qualitatively similar to those following domestic issuances, suggesting that capital raisings abroad are not intrinsically different from those in domestic markets. (3) Firms continue to issue securities both abroad and at home after accessing international markets, suggesting that international and domestic markets are complements, not substitutes. Existing theories do not fully account for these patterns. |
| 主题 | International Economics ; International Factor Mobility ; International Finance ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w14961 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572637 |
| 推荐引用方式 GB/T 7714 | Juan Carlos Gozzi,Ross Levine,Sergio L. Schmukler. Patterns of International Capital Raisings. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14961.pdf（1051KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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