Original paper
International Sourcing, Legal Environments, and Capital Structure
Abstract
Motivated by the rising importance of international sourcing by U.S. firms in recent decades, we study the influence of international sourcing on capital structure. We find that international sourcing has a significant negative influence on financial leverage. The negative influence is stronger in industries that have high R&D intensities and are financially constrained. However, the negative relation is mitigated when suppliers are from...
Paper Details
Title
International Sourcing, Legal Environments, and Capital Structure
Published Date
Jan 1, 2012
Journal
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Notes
History