Short-term financing sources in Africa: Substitutes or complements?

Short-term financing sources in Africa: Substitutes or complements?

Using panel vector autocorrelation models (Panel VaR), we examine the dynamic interrelationships between short-term financing sources for a large sample of 8,464 firm-year observations from seven understudied developing economies over the period 1991-2015. On average, we find that short-term debt an...

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Bibliographic Details
Main Authors: Machokoto, Michael, Mahonye, Nyasha, Makate, Marshall
Format: Journal Article
Language:English
Published: Elsevier 2021
Subjects:
Social Sciences
Business, Finance
Business & Economics
Short-term finance
Africa
Cash holdings
Trade credit
Short-term debt
Financial crisis
Emerging markets
CORPORATE CASH HOLDINGS
TRADE CREDIT
CAPITAL STRUCTURE
FLOW SENSITIVITY
MONETARY-POLICY
ZERO-LEVERAGE
BANK CREDIT
PANEL-DATA
FIRMS
DEBT
Online Access:http://hdl.handle.net/20.500.11937/92264

Internet

http://hdl.handle.net/20.500.11937/92264

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