Does the institutional framework affect the relationship between debt financing and firm performance in emerging countries?

Pinar Sener, Elif Akben-Selcuk and Fatma Didin-Sonmez
Authors registered in the RePEc Author Service: Fatma Didin Sonmez

Applied Economics Letters, 2021, vol. 28, issue 10, 866-871

Abstract: This paper investigates the impact of debt financing on firm performance and how this relationship is affected by the institutional framework in 14 emerging countries. The results show a negative relationship between debt financing and firm performance. However, this negative relationship is reversed in countries with better credit market regulations and more efficient legal systems.

Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/13504851.2020.1784382

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