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Debt Structure and Corporate Performance During the Covid-19 Crisis

Choudhary, Monika LU and Vyshkovskaia, Mariia LU (2021) BUSN79 20211
Department of Business Administration
Abstract
This paper examines the effects of public and bank debt financing on firm performance in emerging markets. Using data on 742 publicly traded firms from the BRIC countries, it is documented that bank debt may have a positive effect on operating performance of a firm. This effect is more pronounced for financially distressed firms and during the crisis period. It is also found that bank debt has a U-shaped relationship with firm’s market valuation. We support the theory of financial flexibility and renegotiation efficiency of bank debt.
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author
Choudhary, Monika LU and Vyshkovskaia, Mariia LU
supervisor
organization
course
BUSN79 20211
year
type
H1 - Master's Degree (One Year)
subject
keywords
debt financing, debt structure, bank debt, firm performance, emerging markets
language
English
id
9048218
date added to LUP
2021-09-08 14:31:36
date last changed
2021-09-08 14:31:36
@misc{9048218,
  abstract     = {{This paper examines the effects of public and bank debt financing on firm performance in emerging markets. Using data on 742 publicly traded firms from the BRIC countries, it is documented that bank debt may have a positive effect on operating performance of a firm. This effect is more pronounced for financially distressed firms and during the crisis period. It is also found that bank debt has a U-shaped relationship with firm’s market valuation. We support the theory of financial flexibility and renegotiation efficiency of bank debt.}},
  author       = {{Choudhary, Monika and Vyshkovskaia, Mariia}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Debt Structure and Corporate Performance During the Covid-19 Crisis}},
  year         = {{2021}},
}