Role of Debt Maturity on Firms' Fixed Assets During Sudden Stop Episodes: Evidence from Thailand

Output Loss from Sudden Stop of FDI and the Role of Macroeconomic Policies

Generally, international flows of capital and foreign direct investment attraction are challengeable issues in the literature of economic growth and development in emerging market countries. However, the fluctuations in foreign direct investment, including sudden flood and stop, will affect emerging markets' output and macroeconomic variables. Using an econometric model with unbalanced panel da...

Institutions, Financial Markets, and Firms' Choice of Debt Maturity

Debt maturity choices when capital inflows can suddenly stop

Much of the literature on capital inflow sudden stops uses models with short term debt only but draws conclusions about the role of debt maturities in crises. In this paper short and long term debt are introduced in an infinite horizon, representative agent model that is consistent with modern open economy macroeconomic models of the type presented in Obstfeld and Rogoff (1996). Phase diagrams ...

Debt and entrenchment: Evidence from Thailand and Indonesia

This paper examines the relation between debt and corporate governance in emerging market economies. We use …rm-level panel data of listed companies from Thailand and Indonesia to analyze the …rm’s corporate …nancing behaviors in connection with its corporate governance arrangements. Our results show that the debt structure is linked to the corporate governance. We …nd that weaker corporate gov...

Debt, Debt Structure and Corporate Performance after Unsuccessful Takeovers: Evidence from Target Firms that Remain Independent

_____________________________________________________________________________ Abstract: Significant increases in the level of target leverage have been previously documented, following unsuccessful takeover attempts. Increased leverage may signal managerial commitment to improved performance, suggesting that corporate performance and leverage should be positively related. If, however, the incre...