Legal Effectiveness and External Capital : The Role of Foreign Debt

Legal Effectiveness and External Capital : The Role of Foreign Debt

Previous research has documented weak, and sometimes conflicting, effects of legal quality on measures of firm debt. Using WorldScope data for 1,689 firms, as well as more detailed proprietary data for 315 firms across nine East Asian countries, the authors find that access to foreign financing appe...

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Bibliographic Details
Main Authors: Allayannis, George, Brown, Gregory W., Klapper, Leora F.
Format: Policy Research Working Paper
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ACCOUNTING
BANK ACCOUNTS
BANK LOANS
BANKING SECTOR
BANKING SYSTEM
BANKRUPTCY
BANKS
BOOK VALUE
BORROWING
BORROWING CONSTRAINTS
CAPITAL MARKETS
CAPITAL STRUCTURE
CAPITALIZATION
CASH FLOWS
COLLATERAL
CONTRACT ENFORCEMENT
CORPORATE GOVERNANCE
CURRENCY
DEBT
ECONOMIC DEVELOPMENT
EMERGING MARKETS
EMPIRICAL ANALYSIS
EMPIRICAL RESEARCH
EMPIRICAL STUDIES
EQUILIBRIUM
EQUITY CAPITAL
EXPENDITURE
EXTERNAL FINANCING
FINANCIAL DEVELOPMENT
FINANCIAL ECONOMICS
FINANCIAL INTERMEDIARIES
FINANCIAL INTERMEDIATION
FINANCIAL MARKETS
FINANCIAL RISK
FINANCIAL TRANSACTIONS
FISCAL YEAR
FIXED ASSETS
FOREIGN ASSETS
FOREIGN BANKS
FOREIGN CURRENCY
FORWARD CONTRACTS
GAMBLING
GDP
GDP PER CAPITA
GOVERNMENT SUBSIDIES
HEDGING
INFORMATION ASYMMETRIES
INTEGRITY
INTEREST RATE
INTEREST RATES
INTERNATIONAL BANKS
INTERNATIONAL FINANCE
LAWS
LEGAL PROTECTION
LIBOR
LOCAL CURRENCY
LONDON INTERBANK OFFER RATE
MARGINS
MARKET VALUE
MATURITY
NET INTEREST MARGIN
OIL
OWNERSHIP STRUCTURE
POLITICAL ECONOMY
PROFITABILITY
PROPERTY RIGHTS
PUBLIC BORROWING
QUANTITATIVE ANALYSIS
REGRESSION MODELS
RELATIVE VALUE
SECURED LENDERS
SHAREHOLDERS
STATE INTERVENTION
SUBSIDIARIES
TANGIBLE ASSETS
TRANSPORT
Online Access:http://documents.worldbank.org/curated/en/2005/03/5635636/legal-effectiveness-external-capital-role-foreign-debt
http://hdl.handle.net/10986/8861

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