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MOKHOVA, N. ZINECKER, M.
Originální název
Capital structure and the country default risk: The evidence from Visegrad group
Typ
článek v časopise - ostatní, Jost
Jazyk
angličtina
Originální abstrakt
The recent Global Financial Crisis and following European Debt Crises show the significance of the country financial stability and its influence on the private sector. The managers make their financial decisions according the source of financing based on the macro economic conditions as interest rates, market volatility, inflation, level of sovereign debt, GDP growth, and the financial stability of a country in general. These factors influence the investment prospects of the country, the stability of bank system, and thus the country default probability and consequently the sovereign credit ratings. The paper investigates the relation between capital structure and the country default risk represented by sovereign credit ratings that assigned by worldwide known agencies as Moodys and Standard and Poors. The research is based on the evidence from four economically related countries: Czech Republic, Slovakia, Poland and Hungary, integrated into Visegrad group, which represent situation on the emerging markets. We examine the tendency of relation between capital structure and sovereign credit ratings for the period of 2005 -2011 included two crises that shed light on the investigated linkages before and after economic shocks.
Klíčová slova
capital structure, country default risk
Autoři
MOKHOVA, N.; ZINECKER, M.
Rok RIV
2013
Vydáno
1. 1. 2013
Nakladatel
Macrotheme Capital Management, LLC
Místo
Austin, TX 78701 United States
ISSN
1848-4735
Periodikum
The Macrotheme Review
Ročník
2
Číslo
1
Stát
Spojené státy americké
Strany od
155
Strany do
179
Strany počet
26
BibTex
@article{BUT97596, author="Natalia {Mokhova} and Marek {Zinecker}", title="Capital structure and the country default risk: The evidence from Visegrad group", journal="The Macrotheme Review", year="2013", volume="2", number="1", pages="155--179", issn="1848-4735" }