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| Author: | Lord, R.A. McIntyre Jr., J.E. |
| Title: | Leverage, imports, profitability, exchange rates, and capital investment: a panel data study of the textile and apparel industries 1974-1987 |
| Journal: | International Review of Financial Analysis
2003 : VOL. 12:3, p. 287-310 |
| Index terms: | Capital structure of companies Exchange rates Foreign exchange Gearing Imports Risk Textile industry |
| Language: | eng |
| Abstract: | The relationship between capital structure and import competition is explored for the textile and apparel industries from 1974 to 1987. The level of import penetration should have an significant effect on business risk and hence on financial leverage. Also the response of leverage to the interrelationships that may exist between import competition and three other factors: 1) company profitability, 2) strength of the dollar and 3) investment in capital equipment is examined. |
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