search query: @author Thomadakis, S. / total: 4
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| Author: | Thomadakis, S. Usmen, N. |
| Title: | International market segmentation and Eurodebt issues |
| Journal: | Review of Quantitative Finance and Accounting
1995 : DEC, VOL. 5:4, p. 339-354 |
| Index terms: | ACCOUNTING EUROBONDS CAPITAL MARKETS |
| Language: | eng |
| Abstract: | Implications of capital market segmentation for international capital structure (ICS) - capital structure consisting of equity issued in one country and debt issued in another - are examined. Necessary conditions for the emergence of ICS are analyzed under two options for debt issues (foreign debt and Eurodebt) and comparisons are made. It is shown that in cases where the projects cannot support an ICS including foreign debt Eurobonds can be issued and would be profitable. Several empirical studies of international capital markets have found evidence of partial segmentation in the strict sense of price divergences between equivalent financial claims in various markets. |
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