The Choice between Public and Private Debt by Japanese Firms

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Description

The purpose of this paper is to investigate the choice of corporate financing between public and private debt. Focusing on the drastic change of financing pattern during the period of financial liberalization from the mid 1980s to the mid 2000s, this paper examines what factors determine the demand for public and private debt. We find that the growth opportunity and default risk of the issuing firm are the main determinants of the debt choice in this period.

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Details 詳細情報について

  • CRID
    1390009224827391232
  • NII Article ID
    120000994054
  • NII Book ID
    AA10459262
  • DOI
    10.15002/00003132
  • HANDLE
    10114/1671
  • ISSN
    09111247
  • Text Lang
    en
  • Data Source
    • JaLC
    • IRDB
    • CiNii Articles
    • KAKEN
  • Abstract License Flag
    Allowed

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