Using a data set covering about 277,000 firms across 79 countries over the period 2004-11, this paper examines the evolution of firms' capital structure during the global financial crisis and its aftermath in 2010-11. The study finds that firm leverage and debt maturity declined in advanced economies and developing countries, even in countries that did not experience a crisis. The deleveraging and maturity reduction were particularly significant for...
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2015/12/21
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Documento de trabalho sobre pesquisa de políticas
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WPS7522
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1
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1
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2015/12/21
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Disclosed
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The impact of the global financial crisis on firms' capital structure
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small and medium enterprise
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