世界各地的资本结构：公司和国家因素在其中的影响[外文翻译].docVIP

外文文献翻译译文 原文： Capital Structure around the World: The Roles of Firm and Country-Specific Determinants We analyze the importance of firm-specific and country-specific factors in the leverage choice of firms from 42 countries around the world. Our analysis yields two new results. First, we find that firm-specific determinants of leverage differ across countries, while prior studies implicitly assume equal impact of firm-specific factors. Second, although we concur with the conventional direct impact of country-specific factors on the capital structure of firms, we show that there is an indirect i