haku: @author Chkir, I. / yhteensä: 1
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| Tekijä: | Chkir, I. Cosset, J-C. |
| Otsikko: | The effect of international acquisitions on firm leverage |
| Lehti: | Journal of Financial Research
2003 : WINTER, VOL. 26:4, p. 501-515 |
| Asiasana: | Gearing International relations Mergers |
| Kieli: | eng |
| Tiivistelmä: | An event study that compares the leverage of corporations before and after they acquire foreign subsidaries is performed to determine whether corporate international diversification leads companies to increase their leverage. It is found that on average leverage increases from the first to the third year following the acquisition. When the relation between additional debt financing after foreign acquisition and the characteristics of these acquisition is examined, it is found that in addition to such major determinants as size and profitability, debt financing is explained by geographical and industrial diversification effects. |
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