Determinants of the development of corporate bond markets in Argentina: survey to firms and investors

María Alegre, Sergio Pernice and Jorge Streb ()

No 345, CEMA Working Papers: Serie Documentos de Trabajo. from Universidad del CEMA

Abstract: Conventional theory leads to expect bonds to be a financing vehicle for large firms because of economies of scale and contracting costs. In this paper we present the results for Argentina of a survey of firms and of investors on the use of corporate bonds. The result of these surveys supports the idea that for Argentine firms, bonds are a financing vehicle of choice only for firms above a certain (large) size. This is independent of the criteria used for firm size. This result is similar to results in other countries such as the United Sates.

Keywords: debt structure; leverage; short-term debt; corporate bonds; firm size; firm value (search for similar items in EconPapers)
JEL-codes: E6 G3 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2007-04
New Economics Papers: this item is included in nep-lam and nep-mac
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cem:doctra:345

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