This study investigates the factors that promoted and prevented issue of debt securities by
firms in emerging markets during 2000–2014. First, we find that borrowers in emerging
economies are more likely to approach the debt security market as the funding size grows
quickly. Second, we find that firm information asymmetry, a common feature of emerging
markets, moderates the negative relationship between the firm's financial constraints and
debt security issuance. Consequently, we conclude that a borrower with a fast-growing …

… What Promotes/Prevents Firm Bond Issuance in Emerging Economies: Bank-FIrm
Relationship or Information Assymetry? … タイトル What Promotes/Prevents Firm Bond
Issuance in Emerging Economies: Bank-FIrm Relationship or Information Assymetry? …
International Review of Economics and Finance 近刊 2018 …