Dynamics of Corporate Performance in Thailand [electronic resource] Kongsamut, Piyabha.
- Washington, D.C. : International Monetary Fund, 2003.
- IMF eLibrary
IMF Working Papers; Working Paper No. 03/214.
IMF Working Papers; Working Paper No. 03/214
- Government document
1 online resource (30 p.)
- Local subjects:
Capital account liberalization.
Capital and Ownership Structure.
Currency composition of debt.
Debt service reduction.
Foreign currency debt.
Maturity structure of debt.
Models with Panel Data.
Net present value of debt.
Semiparametric and Nonparametric Methods.
Terms of debt.
Theory of the firm.
- Recent crises in emerging markets have highlighted the role of the corporate sector in transmitting financial shocks to the macroeconomy. This paper takes stock of the performance of the Thai corporate sector in emerging from the Asian crisis, and discusses remaining challenges and vulnerabilities. Econometric evidence is presented on the impact of excess leverage on performance. Debt levels, though high, have fallen from post-crisis peaks, while returns and corporate cash flows have stabilized. However, the aggregate picture masks significant firm-level variation, which is analyzed by examining estimated distributions for various indicators across firms.
- Description based on print version record.
- Haksar, V.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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