| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17763 |
| 来源ID | Working Paper 17763 |
| How Firms Use Domestic and International Corporate Bond Markets | |
| Juan Carlos Gozzi; Ross Levine; Maria Soledad Martinez Peria; Sergio L. Schmukler | |
| 发表日期 | 2012-01-20 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper provides the first comprehensive documentation of the main features of corporate bond issues in domestic and international markets and analyzes how firms use these markets after they internationalize. We find that debt issues in domestic and international bond markets have different characteristics, not explained by differences across firms or their country of origin. International issues tend to be larger, of shorter maturity, denominated in foreign currency, and include a higher fraction of fixed rate contracts. Moreover, a large proportion of firms remain active in domestic bond markets after accessing international markets, and many of these firms use both markets for different types of issues. This evidence suggests that domestic and international bond markets provide different financial services and are not substitutes, but rather complements. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets ; Corporate Finance |
| URL | https://www.nber.org/papers/w17763 |
| 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/575437 |
| 推荐引用方式 GB/T 7714 | Juan Carlos Gozzi,Ross Levine,Maria Soledad Martinez Peria,et al. How Firms Use Domestic and International Corporate Bond Markets. 2012. |
| 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 | ||
| w17763.pdf（440KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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