Corporate international activity and debt financing
The literature provides conflicting evidence on the relation between corporate international activity and the cost and level of debt financing. Based on this evidence, we explore the impact of firm internationalization on debt financing. Using a market-based sample of U.S. firms, we find significant...
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| Veröffentlicht in: | Journal of international business studies |
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| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
2002
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Tag hinzufügen | Zusammenfassung: | The literature provides conflicting evidence on the relation between corporate international activity and the cost and level of debt financing. Based on this evidence, we explore the impact of firm internationalization on debt financing. Using a market-based sample of U.S. firms, we find significant evidence of a non-monotonic relation between firm international activity and both the cost and level of debt financing. Specifically, we find that, contrary to prior research, firm international activity is, on average, associated with a 13% reduction in the cost of debt financing and a 30% increase in firm leverage. |
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| Beschreibung: | In: Journal of international business studies |
| Beschreibung: | Diagramme |
| ISSN: | 0047-2506 |