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Identifier to cite or link to this item: https://hdl.handle.net/10086/16949

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Title
新興市場国企業の企業属性による資金調達構造の分析 : アジア危機前後におけるフィリピン製造業企業負債比率の推計
Analysis on Financial Structure of Emerging Market Companies: Estimation of Dept Ratio of Philippine Manufacturing Companies between Asian Crisis Period
シンコウ シジョウコク キギョウ ノ キギョウ ゾクセイ ニヨル シキン チョウタツ コウゾウ ノ ブンセキ : アジア キキ ゼンゴ ニオケル フィリピン セイゾウギョウ キギョウ フサイ ヒリツ ノ スイケイ
Creator
Creator Name
齋藤, 純 齋藤, 純
Saito, Jun Saito, Jun
Affiliation
Affiliation Name
一橋大学
Abstract (distribution restricted)
This paper investigates the financial structure of manufacturing companies in the Philippine by estimating their dept ratio using panel data during 1991-2003. Estimation results show ; i) the foreign companies raise money by equity capital and debt in prosperity situation, but they depend on debt in depression situation, ii) Philippine stock market don't sufficiently function in prosperity situation, and iii) the business group companies raise money by equity capital from internal capital market of business groups in prosperity situation, but they depend on debt from business group banks in depression situation.
Publisher
Graduate School of Economics, Hitotsubashi University
Issued Date
2006-03
Language
Japanese(jpn)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Discussion papers ; No. 2005-15
Number of Pages
21
Appears in Collections
Discussion papers / Graduate School of Economics, Hitotsubashi University
URL
https://hdl.handle.net/10086/16949