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AuthorZeitun, Rami
AuthorGoaied, Mohamed
Available date2023-01-18T08:39:01Z
Publication Date2021
Publication NamePacific Basin Finance Journal
ResourceScopus
URIhttp://dx.doi.org/10.1016/j.pacfin.2021.101594
URIhttp://hdl.handle.net/10576/38566
AbstractThis study scrutinizes the nonlinear relationship between foreign ownership and corporate leverage decisions by applying a panel threshold model to a sample that comprises a balanced panel data set of 1027 Japanese firms. Moreover, this study investigates whether a threshold for the level of foreign ownership moderates the effect of determinants on capital structure. The empirical findings support the existence of a threshold effect for foreign ownership on corporate capital structure and its determinants. Furthermore, our findings have managerial implications for foreign investors with a high level of ownership in that they should mainly use liquidity, profitability, and growth to reduce leverage. 2021
Languageen
PublisherElsevier
SubjectCapital structure
Foreign ownership
Leverage
Monitoring power
Ownership structure
Panel threshold model
TitleThe nonlinear effect of foreign ownership on capital structure in Japan: A panel threshold analysis
TypeArticle Review
Volume Number68
dc.accessType Abstract Only


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