Trade liberalization, profitability, and financial leverage
نویسندگان
چکیده
منابع مشابه
Trade Liberalization and Financial Leverage
This paper argues that trade liberalization has a potentially significant impact on financial leverage. We compare the predictions of the trade-off model of capital structure with the pecking order model. In the first case, we suggest that trade liberalization affects the trade-off between the tax advantages of debt and expected bankruptcy costs. This implies that a reduction in domestic tariff...
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ژورنال
عنوان ژورنال: Journal of International Business Studies
سال: 2006
ISSN: 0047-2506,1478-6990
DOI: 10.1057/palgrave.jibs.8400183