|
| << vorige | volgende >> |
Tijdschrift beschrijving
Alle jaargangen van het bijbehorende tijdschrift
Alle afleveringen van het bijbehorende jaargang
Alle artikelen van de bijbehorende aflevering
Details van artikel 3 van 5 gevonden artikelen
| Titel: |
Interactions between Corporate Governance, Bankruptcy Law and Firms Debt Financing: the Brazilian Case |
| Auteur: |
Bruno Funchal Fernando Caio Galdi Alexsandro Broedel Lopes |
| Verschenen in: |
BAR |
| Paginering: | Jaargang 5 (2008) nr. 3 pagina's 245-259 |
| Jaar: |
2008 |
| Inhoud: |
This paper examines the relationship between corporate governance level and the bankruptcy law for such debt variables as firms’ cost of debt and amount (and variation) of debt. Our empirical results are consistent with the model's prediction. First, we find that the better the corporate governance, the lower the cost of debt. Second, we find that better corporate governance arrangements relate to firms with higher amounts of debt. Finally we find that better governance and harsher bankruptcy laws have a positive effect on debt. Moreover, this effect is stronger for firms with worse corporate governance, which indicates that the law works as a substitute for governance practices to protect creditors' interests. |
| Uitgever: |
ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração (provided by DOAJ) |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 3 van 5 gevonden artikelen
| << vorige | volgende >> |