Original paper

Rising corporate debt and value relevance of supply-side factors in South Africa

Volume: 109, Pages: 26 - 37
Published: Mar 1, 2020
Abstract
Motivated by the recent discovery of a significant increase in corporate debt in developed countries, we use a large sample of 775 listed companies to examine the dynamics and determinants of South African corporate debt. We find an 89% increase in the leverage of the average firm, from 11% in 1990 to 21% in 2015. Long-term and short-term debt increased by 103% and 67%, respectively. We find that this increase is pervasive, and cannot be...
Paper Details
Title
Rising corporate debt and value relevance of supply-side factors in South Africa
Published Date
Mar 1, 2020
Volume
109
Pages
26 - 37
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