The impact of financial crisis international 2008 on corporate capital structure of developing and emerging countries
DOI:
https://doi.org/10.5007/2175-8069.2018v15n34p58Abstract
This study aimed to investigate whether the international financial crisis of 2008 caused impacts on the capital structure of companies around the globe. Using a sample of 29,803 companies, from 48 different countries, were detected and measured the impacts of the crisis on six indicators of leverage, measured for all companies and for two groups, one composed of the companies located in emerging countries and other composed of the companies of developed countries. The results showed statistically consistent changes in capital structures of the companies between the pre-crisis and post-crisis period. There was a reduction in leverage levels, a result that was observed for all groups. The results also showed that the crisis has affected in a similar way companies of both types of countries, developed and emerging.
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