determinants of capital flows a crosscountry analysis

... depreciation of the exchange rate Interest rate and exchange rate are chosen as indicators for inflation rate in severalstudies A notable study conducted by Rana Ejaz Ali Khan and Abid Rashid ... GDP deflator and inflation rate have a positive relationship 3) Exchange rate and inflation rate have a positive relationship 4) Real interest rate and inflation rate have a negative relationship ... Percentage of wage and salaried workers and inflation rate have a negativerelationship 6) Population growth rate and inflation rate have a positive relationship Trang 13CHAPTER 2 METHODOLOGY AND

Ngày tải lên: 12/07/2023, 10:40

... Kenya’s telecoms company, Safaricom, in 2006 Similarly, two South African banks (ABSA Capital and Development Bank of South Africa) and the local affiliate of South Africa’s Standard Bank, along ... Republic of the Congo, Ethiopia, Kenya, Madagascar, Malawi, Niger, Rwanda, Senegal, South Africa, Sudan, Tanzania, Uganda, and Malaysia a Chilean authorities were unable to specify the insurance ... four local banks, a Mauritian bank (Mauritius Commercial Bank), and international banks Citigroup and the local affiliate of Standard Chartered (U.K.), participated in the financing arranged for

Ngày tải lên: 21/04/2016, 07:17

... Credit rating and target ratios are also important issues for managers, which means that managers are very sensitive to external bearings The weighted average cost of capital and tax advantage of ... tactical reasons such as to motivate managers to work hard, or to reduce attractiveness of firms as a target are all rated as unimportant (mean rank < 1) In another related question, we ask ... Trang 1The Determinants of Capital Structure Choice: A Survey of European Firms Franck Bancel (ESCP-EAP) Email: bancel@escp-eap.net Usha R Mittoo (University of Manitoba, Canada) Email:

Ngày tải lên: 02/07/2017, 20:27

... breed, and tariffs policies Cavalcanti (2001) deeply analyzed the trade balance in a Latin American country such as Brazil The study has a discussion of trade balance and current account balances ... Bulgaria, Estonia, Hungary, Latvia, Trang 5Lithuania, Poland, Romania, Slovakia and finally Slovenia, a major finding is found On average, most of these countries have the existence of current account ... Trang 1Scientific Press International Limited Analysis of the Determinants of Trade Balance: A Case Study of Vietnam Nguyen Thi Viet Nga1 Abstract The study is focusing on the analysis of

Ngày tải lên: 01/02/2020, 23:03

... ex-ploit as much data as possible, and we drop data before the year 2006 due to its rela-tively small number of firms available The data that have negative leverage (1 ob-servation) are also eliminated ... indi-cates that investors make favorable assess-ment of firm equity, managers are inclined to take advantage of such positive ap-praisal to raise equity Therefore, both trade-off theory and market ... Sri Lankan firms, and Qiu and Smith (2007) for British compa-nies Our data of firm-specific characters are obtained from Datastream for a sample of all non-financial firms listed in Vietnam over

Ngày tải lên: 03/02/2020, 17:36

... Wellagage and Locke (2014) for Sri Lankan firms and Qiu and Smith (2007) for UK companies Our data of firm-specific characters are obtained from Datastream for a sample of all non-financial firms ... profitability and excess cash flow may trigger serious conflicts between managers and shareholders (Booth et al., 2001) As debt can act as a way to limit agency cost, e.g managerial discretionary ... logarithm of the size of firm i in period t, measured by natural logarithm of total assets; prof is profitability, measured by the ratio of EBIT (earnings before interest and taxes) to total assets;

Ngày tải lên: 18/09/2020, 08:46

... the impact of capital structure on a company's value is crucial for managers to formulate risk management strategies, assess bankruptcy risks, and increase overall enterprise value As capital structure ... vast land resources, and slow urbanization resulted in minimal demand for land from local organizations and individuals, leading to a lack of a formal real estate market, characterized instead ... also reveal a negative relationship between profitability and financial leverage. H7: There is a negative relationship between profitability and financial leverage The trade-off theory of capital

Ngày tải lên: 05/12/2023, 17:01

... possibly affecting profitability The share of female board members also has a similar positive impact Luca Flabbi, Mario Macis,Fabiano Schivardi (2012) the interaction between female leadership and ... principal Fama (1980)considers the board a low-cost mechanism of management compared to other alternatives such as, for example, takeovers The literature on board, as a governance team, is mainly ... qualifications of female top managers Results of Annu Kotiranta – Anne Kovalainen– Petri Rouvinen(2007) indicate that a company led by a female CEO is on average slightlymore than a percentage point

Ngày tải lên: 09/09/2013, 23:50

... Roderick Mackay, Oiteagan a Tìr nan Òg: òrain agus dàin, (Alasdair Maclabhruinn: Glaschu, 1938) 25 Eachainn MacFhionghain, Orain Eachainn MacFhionghain, (Acair: Stornoway, 2013) 26 Eachann MacFhionghain, ... bhiodh an àite bàn Bhiodh an àite falamh an diugh Bhiodh e na aon tac mhòr aig na h-uachdaran Bhiodh na bailtean gu leir bàn agus bhiodh na daoine air sgapadh air feadh an t-saoghail, agus cha bhiodh ... caochladh air t-saoghal a bh' againn nuair a thòisich an Cogadh Mòr Dh'fhalbh an saoghal a bh' ann Dh'fhalbh siud nuair a thòisich an Cogadh agus a thòisich daoine a' leigeil dhiubh nan lotaichean.124

Ngày tải lên: 22/12/2014, 16:55

... banks, against good collateral, and at “high” or penalty rates We provide a detailed analysis of the Fed’s lending rates and reveal that it did not follow Bagehot’s classical doctrine of charging ... played as “lender of last resort” in the aftermath of the financial crisis For more than a century and a half it has been recognized that a central bank must act as lender of last resort in a crisis ... regions) that have faced financial meltdowns in more recent years have also taken alternative approaches For that reason, the next stage of our research will undertake a cross-country comparison of policy

Ngày tải lên: 23/09/2015, 08:53

... Guatemala, Guyana, Haiti, Honduras, Iceland, India, Indonesia, Iran, Islamic Rep., Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kenya, Korea, Rep., Lesotho, Luxembourg, Malawi, Malaysia, Malta, ... Malta, Mauritius, Mexico, Morocco, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Portugal, Rwanda, Senegal, ... Correlations Per capita income growth (%) 1.00 Note: The list of 84 countries is as follows: Algeria, Argentina, Australia, Austria, Bangladesh, Barbados, Belgium, Bolivia, Brazil, Cameroon, Canada,

Ngày tải lên: 21/04/2016, 07:47

... the above three explanations of capital flows Our treatment of infrastructure finance as a vehicle of capital flows to developing countries assigns a central role to financial evaluation of foreign ... Expressway, Malaysia ð Guarantee of exchange rate • North-South Expressway, Malaysia ð Debt Guarantee • 4 Toll Roads, Mexico • Termopaipa Power Plant, Colombia IV Market Risk ð Guarantee of tariff rate ... cash flows) for two alternative loan maturity and terms: (i) a loan witha maturity of 5 years and interest rate of 7% per year; and (ii) a loan with a maturity of 15 yearsand interest rate of 8%

Ngày tải lên: 21/04/2016, 13:13

... interest rate Trang 14CHAPTER 1: THEORETICAL FRAMEWORK AND DETERMINANTS OF CAPITAL STRUCTUREThis chapter presents four theories of capital structure and determinants ofcapital structure Although many ... variables are found to beinsignificantly affect capital structure A study of Buferna F et al (2008) on capital structure of Libyan companiesshows that company profitability, size and asset tangible ... not take other variables into considerationssuch as revenue growth, profitability, and tax Samiran (2010) examined the determinants of capital structure or leverage ratio of 37 listed Malaysian

Ngày tải lên: 11/07/2016, 15:57

... theories of capital structure and determinants of capitalstructure Although many researches have been conducted to analyze determinants of capital structure and its impacts on firm performance, ... matter that any firmmanagers need to deal with, as capital structure plays a crucial role in any firmoperations The optimal capital structure is a strategy which brings minimum capitalcosts and ... International research papers The research paper of Zarariah S et al (2011) was conducted to find the impacts ofdeterminants on capital structure of 43 listed Malaysian construction companies

Ngày tải lên: 11/07/2016, 17:22

... financial needs rather than achieve an optimal capital structure 2.5.2 Tangible assets Assets structure is an important factor of capital structure A larger portion of tangible assets increases ... collateral to obtain debt Companies are more able to approach creditors when they have large tangible assets as a guarantee in case of bankruptcy Therefore, trade-off theory indicates that firms ... the ratios of long-term debt and short-term debt to book value of capital These measures are identified below Table 3: Measures of leverage Measures of capital structure determinants Profitability

Ngày tải lên: 14/12/2016, 09:42

... financial needs rather than achieve an optimal capital structure 2.5.2 Tangible assets Assets structure is an important factor of capital structure A larger portion of tangible assets increases ... collateral to obtain debt Companies are more able to approach creditors when they have large tangible assets as a guarantee in case of bankruptcy Therefore, trade-off theory indicates that firms ... the ratios of long-term debt and short-term debt to book value of capital These measures are identified below Table 3: Measures of leverage Measures of capital structure determinants Profitability

Ngày tải lên: 18/03/2017, 02:17

... international capital inflows, strengthen capital markets in order to encourage efficient financial markets According to Bakardzhieva et al (2000), capital flows were clarified into several types ... maintained on trading are a good way for investors to ensure corporate governance because management standards and standards of record keeping within that corporation are maintained at a high level ... 1999 of FII flows to India, market capitalization data and other financial data like the exchange rate, short term interest rate in India, return on the MSCI world index, S&P 500, BSE national

Ngày tải lên: 12/08/2017, 21:35

... the optimal capital structure as an optimal solution of a trade-off, for example the trade-off between a tax shield and the costs of financial distress in the case of trade-off theory According ... standard deviation of EBIT over total assets as a measure of income variability Standard deviation of EBIT INVAR = Total assets 2.3.7 Time dummies In addition to the determinants above, a full ... United States and Japanese manufacturing corporations; Rajan and Zingales (1995) examine firms from G7 countries; and Wald (1999) uses data for G7 countries except Canada and Italy Findings based

Ngày tải lên: 10/01/2018, 10:01

... In fact, there are still opposite idea of the analysis According to Altman, Haldeman & Narayanan (1977), the quadratic model is more sensitive to the derivation sample and its classification ... because of the interpretation of accounting standards as a base for financial reports As regards collecting financial ratios as predictor variables, it depends on the popularity and the ability ... Discriminant Analysis ANN: Artificial Neural Networks WOCA: Working capital GROPROM: Gross profit margin EPS: Earnings per share DEBTTOTAL: Total debt to total assets CASPSHARE: Cash flow per share

Ngày tải lên: 10/01/2018, 10:33

... health care expenditure is a proxy of health care utilization ' Base on the human capital theory, Grossman's model of health capital (Grossman, 1972,2000) is a formal model to analyze the relationship ... health care expenditure Final, Maathai K.Mathiyazhagan, (2003) also analyzed the relationship between Rural Household Characteristics and Health expenditure in India In this paper, the author also ... healthcare expenditure and it has the least influence in Tribal area The reason is because of the lower per head income of the household in Tribal and rural area than in urban area Trang 25However,

Ngày tải lên: 10/01/2018, 12:45