Degree of Internationalization, Financial Structure and Cost of Capital: Evidence from Emerging Taiwan

The debt structure of companies in Developing and Emerging Economies (DEEs) is significantly different from that the developed countries. This study examines effect degree internationalization (DOI) on leverage ratio (LEV) cost capital (COC) DEE setting by using a sample Taiwan listed companies. Our results show DOI has significant positive impact short-term as well negative long-term debt. Therefore, it appears substitution In summary, our indicate firms do not have advantage participating international financial market.