CF article De Jong, A., Kabir, R., & Nguyen, T. (2008). Capital structure around the world: the roles of firm- and country-specific determinants
4 important questions on CF article De Jong, A., Kabir, R., & Nguyen, T. (2008). Capital structure around the world: the roles of firm- and country-specific determinants
In the article "Capital structure around the world: The roles of firm- and country-specific determinants" From De Jong, Kabir, Nguyen. They made subcategories for the hypotheses. For which subcategory are the following Hypotheses?
- Bond market strucutre mitigates the effect of bankruptcy costs on leverage
- Capital formation mitigates the effect of bankruptcy costs on leverage
- Bond market structure mitigates the effect of agency costs on leverage
- Stock market structure mitigates the effect of agency costs on leverage
- Capital formation strengthens the effect of pecking order financing on leverage
In the article "Capital structure around the world: The roles of firm- and country-specific determinants" From De Jong, Kabir, Nguyen. They made subcategories for the hypotheses. For which subcategory are the following Hypotheses?
- Tangibility coefficients are equal across all countries
- risk coefficients are equal across all countries
- size coefficients are equal across all countries
- tax coefficients are equal across all countries
- growth opportunity coefficients are equal across all countries
- profitability coefficients are equal across all countries
- liquidity coefficients are equal across all countries
- All firm-specific variables' coefficients are simultaneously equal across all countries
What are the main findings of the following table?
- The estimated regression coefficients of explanatory variables are shown in different columns. The adjusted R2 of all regressions is above 50%. This indicates that the model captures a good part of the variations.
- It shows that corporate leverage is directly related to a number of country-specific factors.
- The table shows that in countries with a relatively higher rate of economic growth, firms are more willing to use higher levels of debt to finance new investments
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What are the main findings in the following table
- Overall results indicate that country-specific factors also have an impact on the roles of firm-specific determinants of capital structure.
- This table shows the results for the indirect country-specific effects
- The table shows the indirect impact of country-specific variables on leverage.
- R2 is not everywhere above 0.5
- Not all variables are shown (Because no specification yields a statistically significant coefficient.)
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