Quality of public governance and the capital structure of nations and firms:
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 tota...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Cambridge, Mass
National Bureau of Economic Research
January 2018
|
| Series: | NBER working paper series
BV013267645 |
| Online Access: | UER01 Volltext Volltext |
| Summary: | 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 |
| Physical Description: | 1 Online-Ressource (46 Seiten) Diagramme |
| Format: | Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files |
| DOI: | 10.3386/w24184 |
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| spelling | Wei, Shang-jin 1964- Verfasser (DE-588)128616636 aut Quality of public governance and the capital structure of nations and firms Shang-Jin Wei, Jing Zhou Cambridge, Mass National Bureau of Economic Research January 2018 1 Online-Ressource (46 Seiten) Diagramme txt rdacontent c rdamedia cr rdacarrier NBER working paper series BV013267645 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 Hardcopy version available to institutional subscribers Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Zhou, Jing Sonstige (DE-588)1136444955 oth National Bureau of Economic Research Sonstige (DE-588)39157-8 oth http://www.nber.org/papers/w24184 Verlag Volltext https://doi.org/10.3386/w24184 Verlag Volltext |
| spellingShingle | Wei, Shang-jin 1964- Quality of public governance and the capital structure of nations and firms |
| title | Quality of public governance and the capital structure of nations and firms |
| title_auth | Quality of public governance and the capital structure of nations and firms |
| title_exact_search | Quality of public governance and the capital structure of nations and firms |
| title_exact_search_txtP | Quality of public governance and the capital structure of nations and firms |
| title_full | Quality of public governance and the capital structure of nations and firms Shang-Jin Wei, Jing Zhou |
| title_fullStr | Quality of public governance and the capital structure of nations and firms Shang-Jin Wei, Jing Zhou |
| title_full_unstemmed | Quality of public governance and the capital structure of nations and firms Shang-Jin Wei, Jing Zhou |
| title_short | Quality of public governance and the capital structure of nations and firms |
| title_sort | quality of public governance and the capital structure of nations and firms |
| url | http://www.nber.org/papers/w24184 https://doi.org/10.3386/w24184 |
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