Does the relation between information quality and capital structure vary with cross-country institutional differences?

• Main Authors: CHEN, Jeff Zeyun, Chee Yeow LIM, LOBO, Gerald J.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2016
• 主題: capital structure; financial leverage; information quality; investor protection; bank-oriented economy; market-oriented economy; Accounting; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/1563; https://ink.library.smu.edu.sg/context/soa_research/article/2590/viewcontent/RelationBetweenInformationQualityCapitalStructure_2016_jiar_afv.pdf
• 機構: Singapore Management University

Prior research based on U.S. data finds that firms with better information quality raise more equity whereas firms with poorer information quality prefer to issue debt when they seek external financing. Little is known about whether the same conclusion holds outside the U.S. and how the country-leve...