Capital Structures in Developing Countries

By L. Booth, V. Aivazian, Asli Demirgüç-Kunt, Vojislav Maksimovic. 2001

2,412 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/756cc132ea0ebcd1532e02b177bc139cdab05b60

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Citations in the corpus

Are the determinants of capital structure country or firm specific? (2009, positive): “…Bartholdy and Mateus 2005) or on cross-country comparisons of capital structure determinants for listed companies (see for example Rajan and Zingales 1995 for the G7 countries; Booth et al. 2001 for 10 developing countries; Ozkan 2001; Bancel and Mitoo 2004; Gaud et al. 2004 for European firms).”
DETERMINANTS OF CAPITAL STRUCTURE CHOICE: A STRUCTURAL EQUATION MODELING APPROACH (2009, background): “with many previous studies such as Booth et al. (2001) in which the profitability being measured the rate of return (ROA) has negative effect on capital structure.”
Ownership, Institutions, and Capital Structure: Evidence from China (2009, background): “…financing of nonpublicly traded firms, while past research on capital structure choices in developing countries has mainly focused on the largest public firms in those countries (for example, Booth et al. (2001), Harvey et al. (2004), Fan et al. (2006), and Giannetti (2003) is a notable exception).”
The Effect of Employment Protection Legislation and Financial Market Imperfections on Investment: Evidence from a Firm-Level Panel of EU Countries (2009, neutral): “However, these shortcomings are not likely to hamper the analysis because previous studies (Rajan and Zingales, 1995; Boot et al., 2001) do not find any significant differences in factors correlated with debt to book and market capital.”
Ownership and capital structure in Latin America (2010, methodology): “Consistent with Titman and Wessels (1988), Rajan and Zingales (1995), and Booth et al. (2001), this study finds that asset tangibility (fxa_ta) and size (log_sales) influence positively firms' leverage in the sample of Latin American firms.”
As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes (2015, positive): “Similarly, Booth et al. (2001) find a positive relation between country-level tax rates and country averages of leverage”
Capital Structure Decisions around the World: Which Factors Are Reliably Important? (2015, background): “Prior research indicates that the institutional environment inﬂuences ﬁrms’ ﬁnancing policies (e.g., Rajan and Zingales (1995), Demirg¨uc¸-Kunt and Maksimovic (1999), Booth et al. (2001), Bae and Goyal (2009), and Fan et al. (2012)).”
Financial globalization and debt maturity in emerging economies (2006, background): “Booth et al. (2001) study the case of 10 developing countries during the 1980s.”
Investor protection and capital structure: International evidence (2007, methodology): “1 We borrow the measure indices of investor protection from La Porta et al. (1998). La Porta et al.”
What do we know about the capital structure of small firms? (2012, methodology): “Booth et al. (2001) also found a negative coefficient on tangibility in their sample of firms from developing countries.”
Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia (2003, methodology): “These results are generally consistent with the findings of other studies (Rajan and Zingales (1995) and Booth et al. (2001)) of total debt ratios and are consistent with the static trade-off, pecking-order, and agency cost theories of total capital structure.”
DETERMINANTS OF CAPITAL STRUCTURE OF CHINESE-LISTED COMPANIES (2004, background): “Booth et al. (2001) selected countries operating a marketorientated economic system, which bore many similarities to developed countries.”
The Determinants of Capital Structure: Evidence from the Asia Pacific Region * (2004, background): “Moreover, still very little is understood about the determinants of the firm’s financing mix outside the US and other major developed markets, with only a few papers analysing international data (Rajan and Zingales, 1995; Booth et al., 2001; and Antoniou et al., 2002).”
Impact of Capital Structure on Firm Value: Evidence from Indian Hospitality Industry (2017, methodology): “Some of the pioneering work in this area has been of Rajan and Zingales [16]; Booth [17].”