Impact of institutional quality on the capital structure of firms in developing countries

Matemilola Bolaji Tunde; Bany-Ariffin A. N.; Azman-Saini W. N. W.; Nassir Annuar Md

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Impact of institutional quality on the capital structure of firms in developing countries

机译：机构质量对发展中国家企业资本结构的影响

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摘要

This paper investigates the effects of institutional quality on firms' capital structure for a panel of 3891 firms from 23 developing countries. Our main findings for the full panel show institutional quality has a significantly positive effect on firms' capital structure. At the regional level, based on the panel data for 2187 firms from Asian countries and 1091 firms from Latin American and Eastern European countries, institutional quality has a significantly positive effect on capital structure. However, for the 613 firms from African countries, institutional quality is mostly insignificant. Additional analysis reveals positive effects of legal enforcement on capital structure.

机译：本文调查了机构质量对来自23个发展中国家3891家公司小组的企业资本结构的影响。我们为全面组织的主要调查结果表明机构质量对公司的资本结构具有显着积极影响。在区域一级，根据亚洲国家的2187家公司和来自拉丁美洲和东欧国家的1091家公司的小组数据，机构质量对资本结构具有显着积极影响。但是，对于来自非洲国家的613家公司，机构质量大多是微不足道的。额外分析揭示了法律执行对资本结构的积极影响。

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来源
《Emerging markets review》 |2019年第6期|175-209|共35页
作者
Matemilola Bolaji Tunde; Bany-Ariffin A. N.; Azman-Saini W. N. W.; Nassir Annuar Md;
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作者单位

Univ Putra Malaysia Dept Accounting & Finance Serdang 43400 Malaysia;

Univ Putra Malaysia Dept Accounting & Finance Serdang 43400 Malaysia;

Univ Putra Malaysia Dept Econ Serdang 43400 Malaysia;

Xiamen Univ Sch Econ & Management Sepang Malaysia;

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正文语种 eng
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关键词
Capital structure; Debt; Institutional factors; International evidence; System GMM;

机译：资本结构;债务;制度因素;国际证据;系统GMM;

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7. Impact of institutional quality on the capital structure of firms in developing countries [O] . Bolaji Tunde Matemilola, A.N. Bany-Ariffin, W.N.W. Azman-Saini, 2019

机译：机构质量对发展中国家企业资本结构的影响

Impact of institutional quality on the capital structure of firms in developing countries

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