Detail publikace

Capital structure and the country default risk: The evidence from Visegrad group

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"
}