The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Capital Structure, Rates of Return and Financing Corporate Growth: Comparing Developed and Emerging Markets, 1994-2000
Open accessAbstract
Abstract: Firm level data from financial statements for nearly 8,000 listed companies in 22 emerging and 22 developed countries over the period 1994-00 are examined. Capital structure, asset structure, rates of return and financing patterns are compared across countries and over time. In emerging markets (EM) the ratio of debt to total assets and the ratio of current assets to total assets is lower than in developed markets (DM). EM companies employ higher levels of fixed assets (relative to total assets) than do DM companies. Returns on assets, after adjusting for local inflation, are statistically and economically less in EM than in DM countries, especially in the early years of the sample. Country effects are more important than sector effects in explaining cross-firm variation in the variables, but individual firm effects account for most of the variation.
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In the citing paper
“In South Africa, liabilities accounted for 61 percent of total financing and retained earnings and external equity financed 21 and 18 percent respectively of total assets growth between 1996 and 2000 (Glen and Singh, 2003).”
From Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges (2007) · cites this paper as Glen and Singh, 2003
In the citing paper
“They find that the use of liabilities to finance growth was much lower in emerging market group, with that lower level offset by higher levels of both internal and external equity.”
From Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges (2007) · cites this paper as Glen and Singh (2003)
In the citing paper
“Globally, Glen and Singh (2003) find that liabilities accounted for 49 percent of total financing over the period 1996 to 2000.Of the remaining 51 percent, internal equity represented 29 percent, with external equity representing 22 percent.”
From Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges (2007) · cites this paper as Glen and Singh (2003)
Citations
Cites
Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have
Myers, S., & Majluf, N. (1984) · doi:10.3386/w1396 · Cited by 6,745
The separation of ownership and control in East Asian Corporations
Claessens, S., Djankov, S., & Lang, L. H. P. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00067-2 · Cited by 5,754
Research works printed but not linked: 5
- A Singh, 2001, Corporate Governance, Competition, the New International Financial Architecture and Large Corporations in Emerging Markets". Paper presented at the UNCTAD Workshop on Management of Capital Flows. Cairo, 2001. Standard and Poor's, Emerging Markets Fact Book
- Joseph Stiglitz, 1999, Reforming the Global Financial Architecture: Lessons from Recent Crises, Journal of Finance. vol, 54, 1508, 10.1111/0022-1082.00154 · DOI
- L H Summers, 1998, Opportunities Out of Crises: Lessons From Asia
- J Tybout, 2000, Manufacturing firms in developing countries: How well do they do and why?, Journal of Economic Literature, 38, 11, 10.1257/jel.38.1.11 · DOI
- G Whittington, 1997, The Effects of Hyper-Inflation on Accounting Ratios: Financing Corporate Growth in Industrial Economies, International Finance Corporation
Cited by
Sorted by citations
Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges
Adjasi, C. K., & Yartey, C. A. (2007) · IMF Working Papers · doi:10.2139/ssrn.1012992 · Cited by 260
Metadata
- Authors
- Glen, J. D., & Singh, A.
- Affiliations
- International Finance Corporation (KZ)
- United Nations (US)
- Corresponding author
- Glen, Jack Dean
- ORCID
- Singh, Ajit
- Venue
- SSRN Electronic Journal
- Publisher
- Elsevier BV
- Published
- 2003
- ISSN
- 1556-5068 (ISSN-L)
- OpenAlex
- W1909802229
- Cited by
- 21
- References
- 2
- Citations by year
- 2020: 1 · 2013: 3
- Type
- posted content
- Language
- en
- Open access
- green
- doi.org
- Locations
- SSRN Electronic Journal (acceptedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Social Sciences › Business, Management and Accounting › Accounting › Financial Analysis and Corporate Governance
- Social Sciences › Business, Management and Accounting › Strategy and Management › Financial Reporting and Valuation Research
- Keywords
- capital structure, emerging markets, developed markets, debt ratio, fixed assets, return on assets, asset structure, country effects, listed companies
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- Glen, J. D., & Singh, A. (2003). Capital Structure, Rates of Return and Financing Corporate Growth: Comparing Developed and Emerging Markets, 1994-2000. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.397001
