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Financial Market Imperfections and Corporate Decisions : Lessons from the Transition Process in Hungary / by Emilio Colombo, Luca Stanca
(Contributions to Economics. ISSN:21977178)

Publisher (Heidelberg : Physica-Verlag HD : Imprint: Physica)
Year 2006
Edition 1st ed. 2006.
Authors *Colombo, Emilio author
Stanca, Luca author
SpringerLink (Online service)

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OB00164802 Springer Business and Economics eBooks (電子ブック) 9783790816716

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Material Type E-Book
Media type 機械可読データファイル
Size X, 174 p. 50 illus : online resource
Notes Financial market imperfections and corporate decisions: theory and evidence -- The transformation of the Hungarian financial system -- Patterns of corporate financial positions -- The determinants of corporate capital structure -- Financial constraints and investment decisions -- Conclusions
The book presents the results of an empirical investigation of the behaviour of Hungarian firms during the transition process focusing in particular on the role of financial market imperfections for corporate capital structure and investment decisions. The results suggest that financial market reforms have succeeded, albeit partially, in hardening firms's budget constraints and improving the efficiency of the credit allocation process. In particular, following the introduction of the banking sector reform and of the new bankruptcy law, budget constraints became more binding for small private firms, while informational costs became less relevant for foreign-owned firms
HTTP:URL=https://doi.org/10.1007/3-7908-1671-X
Subjects LCSH:Economics
LCSH:Finance, Public
LCSH:Macroeconomics
LCSH:Finance
FREE:Economics
FREE:Public Economics
FREE:Macroeconomics and Monetary Economics
FREE:Financial Economics
Classification LCC:HB1-846.8
DC23:330
ID 8000063587
ISBN 9783790816716

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