Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia

By George Allayannis, Gregory W. Brown, L. Klapper. 2003

329 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/21bc01cb67eafd78e2c12b36fc711d5be854d4d9

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Söhnke M. Bartram
2. Marina Papanastassiou
3. Quang Nguyen
4. Trang Kim
5. Kevin Aretz
6. Darius P. Miller
7. Ugur Lel
8. C. Fritz Foley

In Finance

1. Kristin J. Forbes
2. Söhnke M. Bartram
3. Ugur Lel
4. Mihir A. Desai
5. Darius P. Miller
6. Kevin Aretz
7. Marina Papanastassiou
8. O. Issing

Citations in the corpus

• Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations (2008, background): “Henry (2000a) and Bekaert and Harvey (2000) show that liberalizations increase stock market valuations, and Henry (2000b) shows that they also are associated with investment booms.”
• CORPORATE HEDGING AND SHAREHOLDER VALUE (2010, background): “The evidence also strongly suggests that users of derivatives exhibit lower short-term liquidity than those without derivatives (Lin and Smith, 2007; Allayannis et al., 2003; Dionne and Garand, 2003; Fok et al., 1997; Géczy et al., 1997; Tufano, 1996).”
• Policy uncertainty, derivatives use, and firm-level FDI (2017, background): “These findings are related to the Allayannis, Brown, and Klapper (2003) observation of selective hedging among most East Asian, nonfinancial firms.”
• Financial flexibility, corporate investment and performance: evidence from financial crises (2013, neutral): “…have been extensively used in studies that analyze the performance of East Asian firms prior and during the 1998 crisis (see Claessens et al. 2002; Allayannis et al. 2003; Lemmon and Lins 2003; Lins 2003), are regressed on a number of independent variables including our main variable of interest,…”
• The Use of Foreign Currency Derivatives, Corporate Governance, and Firm Value Around the World (2012, positive): “Allayannis et al. (2003) find evidence that macro-factors such as interest-rate differentials affect the derivatives use of East Asian firms in a manner less consistent with hedging behavior and more consistent with speculation.”
• The International Role of the Euro (2002, background): “43 Allayanis and Ofek (2001), for instance, fi nd that for a sample of US non-fi nancial fi rms the issuance of foreign currency-denominated debt is correlated positively with foreign sales and trade.”