Internal financing of multinational subsidiaries: Debt vs. equity

Journal of Corporate Finance

Volumn 4, Issue 1, 1998, Pages 87-106

  Chowdhry, Bhagwan ^a   Coval, Joshua D ^b  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b UNIVERSITY OF MICHIGAN   (United States)

Author keywords

F3; F30; G3; G32; Internal financing of subsidiaries; Multinational capital structure

Indexed keywords

EID: 0038909274     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0929-1199(97)00011-4     Document Type: Article

References (15)

1. Chowdhry B., Nanda V. Financing of multinational subsidiaries: Parent debt vs. external debt. Journal of Corporate Finance. 1:1994;259-281.
2. DeAngelo H., Masulis R.W. Optimal capital structure under corporate and personal taxation. Journal of Financial Economics. 8:1980;3-27.
3. Eiteman, D.K., Stonehill, A.I., Moffett, M.H., 1991. Multinational Business Finance, 6th ed., Addison Wesley Publishing Company.
4. Errunza, V.R., 1979. Financing MNC Subsidiaries in Central America, Journal of International Business Studies, Fall, 88-93.
5. Hines, J.R., Jr., Hubbard, R.G., 1990. Coming Home to America: Dividend Repatriations by U.S. Multinationals, in: Razin, A., Slemrod, J. (Eds.), Taxation in a Global Economy, University of Chicago Press and National Bureau of Economic Research, pp. 161-200.
6. Hogg, R.D., Mintz, J.M., 1993. Impacts of Canadian and U.S. Tax Reform on the Financing of Canadian Subsidiaries of U.S. Parents, in: Giovannini, A., Hubbard, R.G., Slemrod, J. (Eds.), Studies in International Taxation, University of Chicago Press, Chicago, pp. 47-74.
7. Jensen M. Agency costs of free cash flow, corporate finance and takeovers. American Economic Review. 76:1986;323-329.
8. Robbins S.M., Stobaugh R.B. Financing foreign affiliates. Financial Management. 1(3):1972;56-65.
9. Scholes, M.S., Wolfson, M.A., 1992. Taxes and Business Strategy, Prentice Hall, NJ.
10. Shapiro, A.C., 1992. Multinational Financial Management, 4th ed., Allyn and Bacon.
11. Stobaugh, R.B., 1970. Financing Foreign Subsidiaries of U.S.-Controlled Multinational Enterprises, Journal of International Business Studies, Summer, 43-64.
12. Stokey, N.L., Lucas, R.E., Jr., 1989. Recursive Methods in Economic Dynamics, Harvard University Press, Cambridge, MA.
13. Stonehill A., Stitzel Th. Financial structure and multinational corporations. California Management Review. XII(1):1969;91-96.
14. Stulz R. Managerial discretion and optimal financing policies. Journal of Financial Economics. 26:1990;3-28.
15. Wolfson, M., 1990. Comment on Coming Home to America: Dividend Repatriations by U.S. Multinationals, in: Razin, A., Slemrod, J. (Eds.), Taxation in a Global Economy, University of Chicago Press and National Bureau of Economic Research, pp. 200-207.