Debt or equity? : how firms in developing countries choose

Long stifled by government controls, emerging market (EM) corporate finance is changing dramatically as recent liberalization is revitalizing stagnant domestic capital markets and permitting increased access to overseas markets. This paper examines how EM firms choose between debt and equity in thei...

• Main Author: Glen, Jack D
• Corporate Author: Corporación Financiera Internacional
• Other Authors: Pinto, Brian
• Format: Book
• Published: Washington, D.C. World Bank 1994
• Series: Discussion paper no. 22
• Subjects: SOCIEDADES COMERCIALES; ACTIVOS FINANCIEROS; MERCADO DE CAPITALES; PAISES EN DESARROLLO; ESTUDIOS DE CASOS; CORPORACIONES; INSTRUMENTOS FINANCIEROS; TERCER MUNDO; APLICACIONES; CASOS PRACTICOS

Table of Contents:

• Foreword
• Acknowledgments
• Abstract
• Executive summary
• 1. Introduction
• 2. The capital structure puzzle
• 3. Financial instruments - cost, risk and control
• 4. Capital markets and corporate finance
• 5. A pecking order
• 6. Conclusions
• Annex: Country reports
• References
• List of figures
• List of annex figures.