Economía
Determinants of the development of corporate bond markets in Argentina: survey to firms and investors
Número
345
Autor
María Alegre, Sergio Pernice y Jorge M. Streb
Mes/Año
04/2007
Adjunto
Documento de Trabajo 345195.59 KB
Resumen
Conventional theory leads to expect bonds to be a financing vehicle for large firms because of economies of scale and contracting costs. In this paper we present the results for Argentina of a survey of firms and of investors on the use of corporate bonds. The result of these surveys supports the idea that for Argentine firms, bonds are a financing vehicle of choice only for firms above a certain (large) size. This is independent of the criteria used for firm size. This result is similar to results in other countries such as the United Sates.