TY - JOUR
T1 - The determinants of capital structure
T2 - evidence from the Asia Pacific region
AU - Deesomsak, Rataporn
AU - Paudyal, Krishna
AU - Pescetto, Gioia
PY - 2004/12/31
Y1 - 2004/12/31
N2 - The paper contributes to the capital structure literature by investigating the determinants of capital structure of firms operating in the Asia Pacific region, in four countries with different legal, financial and institutional environments, namely Thailand, Malaysia, Singapore and Australia. The results suggest that the capital structure decision of firms is influenced by the environment in which they operate, as well as firm-specific factors identified in the extant literature. The financial crisis of 1997 is also found to have had a significant but diverse impact on firm's capital structure decision across the region.
AB - The paper contributes to the capital structure literature by investigating the determinants of capital structure of firms operating in the Asia Pacific region, in four countries with different legal, financial and institutional environments, namely Thailand, Malaysia, Singapore and Australia. The results suggest that the capital structure decision of firms is influenced by the environment in which they operate, as well as firm-specific factors identified in the extant literature. The financial crisis of 1997 is also found to have had a significant but diverse impact on firm's capital structure decision across the region.
KW - Asia Pacific region
KW - capital structure
KW - corporate governance
KW - financial crisis
KW - leverage
UR - http://www.scopus.com/inward/record.url?scp=4043182903&partnerID=8YFLogxK
UR - https://www.sciencedirect.com/journal/journal-of-multinational-financial-management
U2 - 10.1016/j.mulfin.2004.03.001
DO - 10.1016/j.mulfin.2004.03.001
M3 - Article
AN - SCOPUS:4043182903
SN - 1042-444X
VL - 14
SP - 387
EP - 405
JO - Journal of Multinational Financial Management
JF - Journal of Multinational Financial Management
IS - 4-5
ER -