haku: @author Bris, A. / yhteensä: 5
viite: 5 / 5
« edellinen | seuraava »
| 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. |
« edellinen | seuraava »
SCIMA