Katalog Online Perpustakaan

Detail Katalog


Journal of Financial Economics


Euro; Financial integration; External financing; Debt financing; Supply of capital; Financial dependence


  1. Arturo Bris,
  2. Yrjö Koskinen,
  3. Mattias Nilsson




    We study the financing policies of European public corporations prior to the euro crisis. Using data from 11 euro countries and a control group of five other European countries over 1991–2006, we show that nonfinancial firms from euro countries with previously weak currencies considerably increased their debt financing after the introduction of the euro. The results are stronger for large firms, firms dependent on external financing, and for the latter part of the post-euro time period. Overall, the results support the hypothesis that the supply of capital increased following the introduction of the euro.


    Vol 114, Nomor 3, Tahun 2014


    not files can be downloaded

    [Artikel lain]