haku: @indexterm INVESTMENT / yhteensä: 2128
viite: 313 / 2128
| Tekijä: | Bris, A. Koskinen, Y. |
| Otsikko: | Corporate leverage and currency crises |
| Lehti: | Journal of Financial Economics
2002 : FEB, VOL. 63:2, p. 275-310 |
| Asiasana: | CRISES CURRENCY EMERGING MARKETS GEARING INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | Currency crises can arise because it is optimal to bail out financially distressed exporting firms through a currency depreciation. Exporting firms will not undertake profitable investments when high leverage causes debt overhang problems. A currency depreciation increases the profitability of new investments when revenues are foreign-currency denominated and domestic-currency costs are nominally rigid. |
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