Warianty tytułu
Języki publikacji
Abstrakty
The paper aims to find what determines the choice of companies listed on the Warsaw Stock Exchange (WSE) between public debt (corporate bonds) and private debt (bank loans). For this purpose, we estimate logistic regression models and panel models of corporate borrowing determinants to compare the impact of enterprise characteristics on financing with the use of corporate bonds or bank loans. In this study, we are interested in explanatory variables that explain the role of transparency measured by the level of information disclosure; and a risk proxy of the variability of operational cash flows and investment risk (retrieved from generalised auto-regressive conditional heteroscedasticity [GARCH] models estimated on companies' stocks [shares] trading on the WSE). (original abstract)
Czasopismo
Rocznik
Tom
Numer
Strony
262--285
Opis fizyczny
Twórcy
autor
- University of Warsaw, Poland
autor
- Enterprise Europe Network
Bibliografia
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Typ dokumentu
Bibliografia
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Identyfikator YADDA
bwmeta1.element.ekon-element-000171603161