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来源类型Working Paper
规范类型报告
DOI10.3386/w24184
来源IDWorking 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
URLhttps://www.nber.org/papers/w24184
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/581858
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GB/T 7714
Shang-Jin Wei,Jing Zhou. Quality of Public Governance and the Capital Structure of Nations and Firms. 2018.
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