Role of debt maturity structure on firm fixed assets during sudden stop episodes : evidence from Thailand /

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Bibliographic Details
Author / Creator:Iannariello, Maria Pia.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2007.
Description:1 online resource (27 pages) : illustrations
Language:English
Series:IMF working paper ; WP/07/11.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12496470
Hidden Bibliographic Details
Other authors / contributors:Morsy, Hanan.
Terada-Hagiwara, Akiko.
International Monetary Fund.
ISBN:1282448129
9781282448124
9781451865752
1451865759
Notes:Includes bibliographical references (pages 26-27).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper studies the detrimental effect of sudden stops on the growth of Thai firms' fixed assets. We focus on the fixed assets adjustment that firms undertake at times of financial constraints. We derive our results from balance sheet data for 284 nonfinancial Thai listed firms. Our data demonstrate that Thai firms faced severe declines in the growth of their fixed assets starting in 1996. Regression results demonstrate, after controlling for firms' characteristics and lagged dependent variables, that holding longer-term debt maturity structure is the factor that works in the firms' favor during sudden stop episodes, while it is their profitability that matters during tranquil periods.
Other form:Print version: Iannariello, Maria Pia. Role of debt maturity structure on firm fixed assets during sudden stop episodes. [Washington, D.C.] : International Monetary Fund, ©2007

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245 1 0 |a Role of debt maturity structure on firm fixed assets during sudden stop episodes :  |b evidence from Thailand /  |c prepared by Maria Pia Iannariello, Hanan Morsy, and Akiko Terada Hagiwara. 
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300 |a 1 online resource (27 pages) :  |b illustrations 
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520 |a This paper studies the detrimental effect of sudden stops on the growth of Thai firms' fixed assets. We focus on the fixed assets adjustment that firms undertake at times of financial constraints. We derive our results from balance sheet data for 284 nonfinancial Thai listed firms. Our data demonstrate that Thai firms faced severe declines in the growth of their fixed assets starting in 1996. Regression results demonstrate, after controlling for firms' characteristics and lagged dependent variables, that holding longer-term debt maturity structure is the factor that works in the firms' favor during sudden stop episodes, while it is their profitability that matters during tranquil periods. 
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505 0 |a I. Introduction; II. Data Description and Analysis; III. Empirical Estimations and Results; A. Main Results-Tranquil vs. Sudden Stop Episodes; B. Tradable vs. Nontradable Producers; C. Debt Structure, Long- vs. Short-Term Maturity; D. Robustness Tests; IV. Conclusion; Tables; 1. Summary Statistics by Industry; 2. Firms' Characteristics by Sector; 3. Tranquil vs. Sudden Stops Episodes; 4. Regression Results-Entire Sample; 5. Regression Results-Tradable vs. Nontradable Sectors; 6. Regression Results-Long- vs. Short-Term Debt Maturity Structure; 7. Robustness Analysis; Figures. 
505 8 |a 1. Behavior of Thai Capital Flows2. Growth in Firm Fixed Assets; Data Appendix; References. 
650 0 |a Debts, Public  |z Thailand  |x Econometric models. 
651 0 |a Thailand  |x Economic conditions  |x Econometric models. 
650 0 |a Financial crises  |z Thailand  |x Econometric models. 
650 0 |a Corporate debt  |z Thailand  |x Econometric models. 
650 0 |a Capital movements  |z Thailand  |x Econometric models. 
650 6 |a Dettes publiques  |z Thaïlande  |x Modèles économétriques. 
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650 6 |a Sociétés  |x Dettes  |z Thaïlande  |x Modèles économétriques. 
650 6 |a Mouvements de capitaux  |z Thaïlande  |x Modèles économétriques. 
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650 7 |a Economic history.  |2 fast  |0 (OCoLC)fst00901974 
650 7 |a Financial crises  |x Econometric models.  |2 fast  |0 (OCoLC)fst00924608 
651 7 |a Thailand.  |2 fast  |0 (OCoLC)fst01205310 
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