Choice of Financing in a Borrowing-Constrained Economy and Long-Term Profitability Effects

2017-12-20
This paper examines the long - run stock performance of equity issuers in a borrowing - constrained emerging economy and documents no negative abnormal stock performance when there are severe borrowing constraints . This result is robust t o the inclusion of several risk factors and firm characteristics as control variables in the regressions . Findings of this study might have important implications for other emerging markets and international investors taking positions in these markets.
Citation Formats
S. Danışoğlu, Z. N. Güner, and Z. Önder, “Choice of Financing in a Borrowing-Constrained Economy and Long-Term Profitability Effects,” Paris, Fransa, 2017, p. 1, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/74788.