全球智库信息集成服务系统(G2TT): Quality of Public Governance and the Capital Structure of Nations and Firms

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w24184
来源ID	Working Paper 24184
	Quality of Public Governance and the Capital Structure of Nations and Firms
	Shang-Jin Wei; Jing Zhou
发表日期	2018-01-08
出版年	2018
语种	英语
摘要	This paper examines the role of public governance quality in determining the composition of a country’s external liabilities and the capital structure of firms. In our theory, better institutional quality tends to promote a higher share of foreign direct investment and equity investment in total foreign liabilities, and a higher share of long-term debt within the debt/loan category. Similar prediction holds for the capital structure of firms. We conduct extensive empirical investigation by exploring both firm level data and country level data and find supportive evidence for these predictions.
主题	International Economics ; International Finance ; Financial Economics ; Financial Markets ; Corporate Finance
URL	https://www.nber.org/papers/w24184
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/581858
推荐引用方式 GB/T 7714	Shang-Jin Wei,Jing Zhou. Quality of Public Governance and the Capital Structure of Nations and Firms. 2018.