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Foreign currency-denominated borrowing in the absence of operating incentives

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Cited by:

  1. Cerutti, Eugenio M. & Obstfeld, Maurice & Zhou, Haonan, 2021. "Covered interest parity deviations: Macrofinancial determinants," Journal of International Economics, Elsevier, vol. 130(C).
  2. Wenxin Du & Jesse Schreger, 2013. "Local Currency Sovereign Risk," International Finance Discussion Papers 1094, Board of Governors of the Federal Reserve System (U.S.).
  3. Juan Carlos Gozzi & Ross Levine & Maria Soledad Martinez Peria & Sergio L. Schmukler, 2012. "How Firms Use Domestic and International Corporate Bond Markets," NBER Working Papers 17763, National Bureau of Economic Research, Inc.
  4. Chiţu, Livia & Eichengreen, Barry & Mehl, Arnaud, 2014. "When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets," Journal of Development Economics, Elsevier, vol. 111(C), pages 225-245.
  5. Paul Mizen & Frank Packer & Eli Remolona & Serafeim Tsoukas, 2012. "Why do firms issue abroad? Lessons from onshore and offshore corporate bond finance in Asian emerging markets," Discussion Papers 12/15, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
  6. Signe Krogstrup & Cedric Tille, 2015. "On the roles of different foreign currencies in European bank lending," IHEID Working Papers 17-2015, Economics Section, The Graduate Institute of International Studies, revised 31 Aug 2015.
  7. Graveline, Jeremy J. & McBrady, Matthew R., 2011. "Who makes on-the-run Treasuries special?," Journal of Financial Intermediation, Elsevier, vol. 20(4), pages 620-632, October.
  8. Calomiris, Charles W. & Larrain, Mauricio & Schmukler, Sergio L. & Williams, Tomas, 2022. "Large international corporate bonds: Investor behavior and firm responses," Journal of International Economics, Elsevier, vol. 137(C).
  9. Charles W. Calomiris & Mauricio Larrain & Sergio L. Schmukler & Tomas Williams, 2019. "Search for Yield in Large International Corporate Bonds: Investor Behavior and Firm Responses," NBER Working Papers 25979, National Bureau of Economic Research, Inc.
  10. Valentina Bruno & Hyun Song Shin, 2020. "Currency Depreciation and Emerging Market Corporate Distress," Management Science, INFORMS, vol. 66(5), pages 1935-1961, May.
  11. Bryan Hardy & Felipe Saffie, 2019. "From carry trades to trade credit: financial intermediation by non-financial corporations," BIS Working Papers 773, Bank for International Settlements.
  12. Diego Alejandro Martínez Cruz & José Fernando Moreno Gutiérrez & Juan Sebastián Rojas Moreno, 2015. "Evolución de la relación entre bonos locales y externos del gobierno colombiano frente a choques de riesgo," Borradores de Economia 919, Banco de la Republica de Colombia.
  13. Beber, Alessandro & Fabbri, Daniela, 2012. "Who times the foreign exchange market? Corporate speculation and CEO characteristics," Journal of Corporate Finance, Elsevier, vol. 18(5), pages 1065-1087.
  14. Maurizio Michael Habib & Mark Joy, 2010. "Foreign-currency bonds: currency choice and the role of uncovered and covered interest parity," Applied Financial Economics, Taylor & Francis Journals, vol. 20(8), pages 601-626.
  15. Gozzi, Juan Carlos & Levine, Ross & Martinez Peria, Maria Soledad & Schmukler, Sergio L., 2015. "How firms use corporate bond markets under financial globalization," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 532-551.
  16. Leonardo Gambacorta & Sergio Mayordomo & José María Serena, 2020. "Dollar borrowing, firm-characteristics, and FX-hedged funding opportunities," Working Papers 2005, Banco de España.
  17. Wenqi Luo & Jiexian Cheng, 2023. "Transition to sustainable business models for green economic recovery: role of financial literacy, innovation and environmental sustainability," Economic Change and Restructuring, Springer, vol. 56(6), pages 3787-3810, December.
  18. Anella Munro & Philip Wooldridge, 2011. "Motivations for swap-covered foreign currency borrowing," BIS Papers chapters, in: Bank for International Settlements (ed.), Currency internationalisation: lessons from the global financial crisis and prospects for the future in Asia and the Pacific, volume 61, pages 19-56, Bank for International Settlements.
  19. Sapp, Stephen, 2024. "Maturity diversification: The use of foreign and domestic bonds," Finance Research Letters, Elsevier, vol. 70(C).
  20. Susan Black & Anella Munro, 2010. "Why issue bonds offshore?," BIS Papers chapters, in: Bank for International Settlements (ed.), The international financial crisis and policy challenges in Asia and the Pacific, volume 52, pages 97-144, Bank for International Settlements.
  21. Mizen, Paul & Packer, Frank & Remolona, Eli & Tsoukas, Serafeim, 2021. "Original sin in corporate finance: New evidence from Asian bond issuers in onshore and offshore markets," Journal of International Money and Finance, Elsevier, vol. 119(C).
  22. Gong, Di & Jiang, Tao & Wu, Weixing, 2018. "A foreign currency effect in the syndicated loan market of emerging economies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 52(C), pages 211-226.
  23. Choi, Young Mok & Park, Kunsu, 2019. "Does foreign currency-denominated debt affect dividend payout policy? Evidence from Korea," Journal of Multinational Financial Management, Elsevier, vol. 49(C), pages 20-34.
  24. Joel Houston & Jennifer Itzkowitz & Andy Naranjo, 2012. "Corporate Borrower Nationality and Global Presence: Cross-Country Evidence on the Pricing of Syndicated Bank Loans," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 5, Edward Elgar Publishing.
  25. Liao, Gordon Y., 2020. "Credit migration and covered interest rate parity," Journal of Financial Economics, Elsevier, vol. 138(2), pages 504-525.
  26. Galvez, Julio & Gambacorta, Leonardo & Mayordomo, Sergio & Serena, Jose Maria, 2021. "Dollar borrowing, firm credit risk, and FX-hedged funding opportunities," Journal of Corporate Finance, Elsevier, vol. 68(C).
  27. Paul Mizen & Frank Packer & Eli Remolona & Serafeim Tsoukas, 2014. "Capital structure and the issuance of corporate bonds in emerging Asia," Chapters, in: Iwan J. Azis & Hyun S. Shin (ed.), Global Shock, Risks, and Asian Financial Reform, chapter 13, pages 510-540, Edward Elgar Publishing.
  28. Zhang, Ling & Berk Saydaliev, Hayot & Ma, Xiaoyu, 2022. "Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals," Renewable Energy, Elsevier, vol. 193(C), pages 991-1000.
  29. Jie Yang & Liyan Han, 2013. "Optimal size of currency swap between central banks: evidence from China," Applied Economics Letters, Taylor & Francis Journals, vol. 20(3), pages 203-207, February.
  30. Hale, Galina B. & Jones, Peter C. & Spiegel, Mark M., 2020. "Home currency issuance in international bond markets," Journal of International Economics, Elsevier, vol. 122(C).
  31. Wenxin Du & Jesse Schreger, 2016. "Local Currency Sovereign Risk," Journal of Finance, American Finance Association, vol. 71(3), pages 1027-1070, June.
  32. Stavros Peristiani & Joao A. C. Santos, 2010. "Has the US Bond Market Lost its Edge to the Eurobond Market?," International Review of Finance, International Review of Finance Ltd., vol. 10(Financial), pages 149-183.
  33. Han, Bo, 2022. "Currency denomination and borrowing cost: Evidence from global bonds," Journal of Multinational Financial Management, Elsevier, vol. 66(C).
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