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Cited by 323

The DOI matches its Crossref record; 65 of the 65 references it cites were found in a registry or an index.

Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia

Allayannis, George, Brown, Gregory W., Klapper, Leora F.·2003·The Journal of Finance
DOI 10.1046/j.1540-6261.2003.00619.x
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Abstract

Using a data set of East Asian nonfinancial companies, we examine a firm's choice between local, foreign, and synthetic local currency (hedged foreign currency) debt. We find evidence of unique as well as common factors that determine each debt type's use, indicating the importance of examining debt at a disaggregated level. We exploit the Asian financial crisis as a natural experiment to investigate the role of debt type in firm performance. Surprisingly, we find that the use of synthetic local currency debt is associated with the biggest drop in market value, possibly due to currency derivative market illiquidity during the crisis.

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Metadata

Authors
Allayannis, G., Brown, G. W., & Klapper, L. F.
Venue
The Journal of Finance
Publisher
Wiley
Published
2003-11-07
Volume
58
Issue
6
Pages
2667-2710
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1046/j.1540-6261.2003.00619.x
OpenAlex
W2129998520
Cited by
323
References
65
FWCI
55.95
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia. https://app.cochat.ai/papers/10.1046/j.1540-6261.2003.00619.x
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Allayannis, G., Brown, G. W., & Klapper, L. F. (2003). Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia. The Journal of Finance. https://doi.org/10.1046/j.1540-6261.2003.00619.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.