Do external funds yield lower returns?
نویسندگان
چکیده
منابع مشابه
Do External Funds Yield Lower Returns ? Recent Evidence from East Asian Economies
There is little micro-economic evidence of the macroeconomic argument of excessive borrowing and overinvestment in East Asia before the crisis of 1997. Using firmlevel panel data-set from four Asian countries, this paper examines the efficiency of internal and external funds and compares the rates of return to these funds. We obtain selectivity-corrected random effects estimates of rates of ret...
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ژورنال
عنوان ژورنال: Journal of Asian Economics
سال: 2006
ISSN: 1049-0078
DOI: 10.1016/j.asieco.2006.01.011