Capital Structure, Rates of Return and Financing Corporate Growth: Comparing Developed and Emerging Markets, 1994-00

Jack Glen and Ajit Singh

Working Papers from Centre for Business Research, University of Cambridge

Abstract: Firm level data from financial statements for nearly 8,000 listed companies in 22 emerging and 22 developed countries over the period 1994-00 are examined. Capital structure, asset structure, rates of return and financing patterns are compared across countries and over time. Generally, there are as many similarities as differences between the two groups. The differences include lower levels of debt to finance assets and lower levels of current assets in emerging markets compared with developed countries. Returns on assets, expressed in local currency, are comparable in the two groups but appear more volatile in emerging markets. Capital Structure, Rates of Return and Financing Corporate Growth: Evidence from Developed and Emerging Markets, 1994-00

Keywords: Liberalisation; Competitive Shocks; Firm growth; Turbulence; Market structure; India JEL Classification: G3; F36; L1; O16 (search for similar items in EconPapers)
Date: 2003-06
Note: PRO-2
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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