Corporate investment in emerging markets : financing vs. real options channel /
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| Author / Creator: | Li, Delong, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2015. |
| Description: | 1 online resource (30 pages) : color illustrations. |
| Language: | English |
| Series: | IMF working paper ; WP/15/285 IMF working paper ; WP/15/285. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12505663 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 No. 15/285eb | |
| 100 | 1 | |a Li, Delong, |e author. | |
| 245 | 1 | 0 | |a Corporate investment in emerging markets : |b financing vs. real options channel / |c prepared by Delong Li, Nicolas E. Magud, and Fabian Valencia. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2015. | ||
| 300 | |a 1 online resource (30 pages) : |b color illustrations. | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/15/285 | |
| 500 | |a "December 2015." | ||
| 500 | |a "Western Hemisphere Department." | ||
| 504 | |a Includes bibliographical references (pages 28-30). | ||
| 520 | |a We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a financing channel originating from changes in the costs of external borrowing and (ii) a real options channel---reflecting firms' option values to delay investment. We find evidence of the coexistence of both channels. Financially weaker firms reduce investment by more in response to higher interest rates or volatility, while firms with stronger balance sheets become less willing to invest after volatility spikes. Furthermore, the intensity of the financing channel diminishes for firms in countries with lower public debt, higher foreign reserves, or deeper financial markets--Abstract. | ||
| 588 | 0 | |a Online resource; title from pdf title page (IMF.org Web site, viewed January 4, 2016). | |
| 650 | 0 | |a Investments |z Developing countries |x Econometric models. | |
| 650 | 7 | |a Investments |x Econometric models. |2 fast |0 (OCoLC)fst00978254 | |
| 651 | 7 | |a Developing countries. |2 fast |0 (OCoLC)fst01242969 | |
| 700 | 1 | |a Magud, Nicolas E., |e (IMFstaff), |e author. |0 http://id.loc.gov/authorities/names/no2010208400 | |
| 700 | 1 | |a Valencia, Fabian, |e (IMFstaff), |e author. |0 http://id.loc.gov/authorities/names/no2009043336 | |
| 710 | 2 | |a International Monetary Fund. |b Western Hemisphere Department. |0 http://id.loc.gov/authorities/names/n82237138 | |
| 830 | 0 | |a IMF working paper ; |v WP/15/285. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2015/285/001.2015.issue-285-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 No. 15/285eb |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2015/285/001.2015.issue-285-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12150010 | ||