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150128 ||| eng |
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|a 9781451853018
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| 100 |
1 |
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|a Sayek, Selin
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| 245 |
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0 |
|a Multinational Affiliates and Local Financial Markets
|c Selin Sayek, Alexander Lehmann, Hyoung Kang
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2004
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| 300 |
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|a 26 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Finance, Public
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| 653 |
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|a Public Administration
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| 653 |
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|a Payment Systems
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| 653 |
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|a Investments, Foreign
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| 653 |
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|a Finance
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| 653 |
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|a Regimes
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| 653 |
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|a Financial statements
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Multinational Firms
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| 653 |
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|a Money
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Standards
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| 653 |
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|a Financial markets
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| 653 |
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|a Accounting
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| 653 |
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|a Capital and Ownership Structure
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| 653 |
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|a Goodwill
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| 653 |
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|a Public Sector Accounting and Audits
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| 653 |
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|a Currencies
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| 653 |
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|a Public financial management (PFM)
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| 653 |
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|a Financial sector development
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| 653 |
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|a Financial reporting, financial statements
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| 653 |
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|a Financial Risk and Risk Management
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| 653 |
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|a Financing Policy
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Foreign direct investment
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| 653 |
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|a Government and the Monetary System
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| 653 |
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|a Monetary economics
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| 653 |
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|a Value of Firms
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| 653 |
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|a Financial Aspects of Economic Integration
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Currency
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| 653 |
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|a International Business
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Monetary Systems
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| 653 |
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|a Financial services industry
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| 653 |
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|a Exchange rates
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Finance: General
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| 653 |
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|a International Investment
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| 700 |
1 |
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|a Kang, Hyoung
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| 700 |
1 |
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|a Lehmann, Alexander
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781451853018.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2004/107/001.2004.issue-107-en.xml?cid=17341-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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| 520 |
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|a We use data on the sources of debt finance of U.S. majority-owned foreign affiliates in 53 countries over the period 1983 to 2001 to examine the role of financial market development, and exposure to host country-specific risk on the financing choices of these affiliates. We find that total balance sheets are about four times as large as the cross-border component of foreign direct investment (FDI). The extent of financial leverage through local debt is positively related to host-country corporate tax rates, exchange rate variability, local currency-denominated sales, and financial development. Factors that further the role of local debt reduce that of parent company debt, and through this substitution overall leverage increases
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