The Impact of Internationalisation on the Capital Structure of Exporters in Empirical Research

Authors

  • Joanna Wyrobek Uniwersytet Ekonomiczny w Krakowie, Katedra Finansów Przedsiębiorstw

DOI:

https://doi.org/10.15678/krem.764

Keywords:

export, debt ratios, financial situation of exporters, capital structure

Abstract

The purpose of the study was to verify whether exporters use more liabilities in their financing structure than non-exporters. The study was conducted for companies listed on the Warsaw Stock Exchange for the years 2000-2009. Capital structure was measured with a debt ratio calculated as a ratio of total liabilities divided by total assets. To test the statistical significance of differences between exporters and non-exporters I used the Cochrane-Cox test. Differences in the debt ratios were not always statistically significant but, apart from companies manufacturing and selling metal products, all remaining exporters had comparable or higher debt ratio values than non-exporters.

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Published

19-12-2015

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How to Cite

Wyrobek, J. (2015). The Impact of Internationalisation on the Capital Structure of Exporters in Empirical Research. Krakow Review of Economics and Management Zeszyty Naukowe Uniwersytetu Ekonomicznego W Krakowie, 913, 137-158. https://doi.org/10.15678/krem.764