Analysis of the debt burden in Russian economy sectors
作者: Svetlana PopovaNataliya KarlovaAlexey PonomarenkoElena Deryugina
作者单位: 1Bank of Russia, Moscow, Russia
刊名: Russian Journal of Economics, 2017, Vol.3 (4), pp.379-410
来源数据库: Elsevier Journal
DOI: 10.1016/j.ruje.2017.12.005
关键词: С23D24E44G32Debt burdenCapital structureSector analysisMicrodata of Russian companiesEmerging markets
原始语种摘要: Abstract(#br)This paper provides an analysis of the debt burden of Russian companies and raises the issue of debt-level heterogeneity across economic sectors. To identify the causes of this heterogeneity, it estimates a regression model that includes both fundamental explanatory variables of companies and industry fixed effects. The results of the analysis demonstrate that standard variables, such as profitability, company size, asset turnover, and fixed-asset turnover ratio have a strong statistical significance. However, these do not fully explain the variation in the debt levels of companies in different sectors. According to model estimation, there are other industry specific factors that produce an imbalance between fundamental factors and companies’ debt levels. An understanding of...
全文获取路径: Elsevier  (合作)

  • economy 经济
  • profitability 盈利能力
  • burden 负担
  • monetary 金融
  • Analysis 分析
  • explanatory 说明
  • industry 工业
  • economic 经济的
  • turnover 代谢回转
  • fundamental 基本的