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Cover Art
Author Morsy, Hanan.

Title Role of Debt Maturity Structureon Firm Fixed Assets During Sudden Stop Episodes [electronic resource] : Evidence From Thailand / Hanan Morsy.

Published Washington, D.C. : International Monetary Fund, 2007.


Location Call No. Status
Physical description 1 online resource (27 p.)
Series IMF Working Papers; Working Paper ; No. 07/11
IMF Working Papers; Working Paper ; No. 07/11
Summary This paper studies the detrimental effect of sudden stops on the growth of Thai firms' fixed assets. We focus on the fixed assets adjustment that firms undertake at times of financial constraints. We derive our results from balance sheet data for 284 nonfinancial Thai listed firms. Our data demonstrate that Thai firms faced severe declines in the growth of their fixed assets starting in 1996. Regression results demonstrate, after controlling for firms' characteristics and lagged dependent variables, that holding longer-term debt maturity structure is the factor that works in the firms' favor during sudden stop episodes, while it is their profitability that matters during tranquil periods.
Notes Description based on print version record.
Other author Iannariello, Maria Pia.
Morsy, Hanan.
Terada-Hagiwara, Akiko.
Subject Asia Financial Crisis
Corporate Finance and Governance
Current Account
Debt Maturity
Debt Obligations
Firm Fixed Asset
ISBN 1451865759 : 18.00 USD
ISSN 1018-5941
Standard Number 10.5089/9781451865752.001