Macro‐management policies: A supporting role to company' capital expenditure.
Uložené v:
| Názov: | Macro‐management policies: A supporting role to company' capital expenditure. |
|---|---|
| Autori: | Zehri, Chokri |
| Zdroj: | International Journal of Finance & Economics; Oct2023, Vol. 28 Issue 4, p3846-3864, 19p |
| Predmety: | CAPITAL investments, CAPITAL controls, FINANCIAL policy, CAPITAL movements, INTERNATIONAL competition, FOREIGN assets, CAPITALISM |
| Abstrakt: | This article studies the empirical impact of Foreign Assets Management (FAM) on companies' capital expenditure in emerging market economies with International Financial Shocks (IFS). The empirical analysis uses annual data of 2931 publicly listed companies in 45 emerging market economies from 2000 to 2019. We analyzed a multiplicative regression of a canonical capital expenditure Q model. The findings show that FAM positively affects companies' capital expenditure. Moreover, financially restricted companies are more sensitive to the favourable impact of FAM compared to restricted companies. Our results highlight the relevance of considering companies' heterogeneity when examining the effect of macro‐management policies. In addition, FAM has a more favourable impact on companies' capital expenditure in economies that concurrently use capital controls and macroprudential policy. Finally, our findings suggest that successful macro‐management policies insulate capital expenditure from adverse IFS. This result highlights the role of more coordinated approaches to repel adverse international shocks. [ABSTRACT FROM AUTHOR] |
| Copyright of International Journal of Finance & Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Databáza: | Complementary Index |
Full Text Finder 
Nájsť tento článok vo Web of Science Buďte prvý, kto okomentuje tento záznam!