Детерминанты стратегических решений о финансировании крупных компаний на развивающихся рынках капитала: пример России, Бразилии и Китая

Irina V. Ivashkovskaya; Maria S. Solntseva

Authors

Irina V. Ivashkovskaya National Research University Higher School of Economics, Moscow, Russia https://orcid.org/0000-0003-1409-5250
Maria S. Solntseva National Research University Higher School of Economics, Moscow, Russia

Abstract

The article presents key determinants of capital structure which is the most important strategic parameter for corporate financing policies in any company. The analysis is based on the samples of 74 large-scale Russian companies in comparison with the samples made of 84 large-scale companies from Brazil and 246 large-scale companies from China, which are supposed to be the most attractive emerging capital markets within 2001–2006. The results are developed within long term research project in the Center for corporate finance of Higher school of economics.

Keywords:

capital structure, financial leverage, financial management, emerging markets, BRIC countries

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References

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