The determinants of capital structure for Japanese multinational and domestic corporations
Theoretically, it is often argued that the international diversification of earnings should enable multinational corporations to sustain higher levels of debt than domestic corporations. Studies using US multinationals often report lower leverage for multinationals relative to domestic corporations, while studies on samples of French and Canadian multinationals find the theoretical relation. This paper extends the research to Japanese multinationals. We find that being a multinational...[Show more]
|Collections||ANU Research Publications|
|Source:||International Review of Finance|
|0601.pdf||Author/s Accepted Manuscript (AAM)||242.49 kB||Adobe PDF|
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