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Jack D. Glen - Debt or equity?: how firms in developing countries choose

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title Debt or Equity How Firms in Developing Countries Choose - photo 1

title:Debt or Equity? : How Firms in Developing Countries Choose Discussion Paper (International Finance Corporation) ; No. 22
author:Glen, Jack D.; Pinto, Brian.
publisher:World Bank
isbn10 | asin:082132974X
print isbn13:9780821329740
ebook isbn13:9780585264202
language:English
subjectCorporations--Developing countries--Finance, Capital market--Developing countries.
publication date:1994
lcc:HG4285.G578 1994eb
ddc:658.15
subject:Corporations--Developing countries--Finance, Capital market--Developing countries.
Recent IFC Discussion Papers
No. 1 Private Business in Developing Countries: Improved Prospects. Guy P. Pfeffermann
No. 2 Debt-Equity Swaps and Foreign Direct Investment in Latin America. Joel Bergsman and Wayne Edisis
No. 3 Prospects for the Business Sector in Developing Countries. Economics Department, IFC
No. 4 Strengthening Health Services in Developing Countries through the Private Sector. Charles C. Griffin
No. 5 The Development Contribution of IFC Operations. Economics Department, IFC
No. 6 Trends in Private investment in THirty Developing Countries. Guy P. Pfeffermann and Andrea Madarassy
No. 7 Automotive Industry Trends and Prospects for Investment in Developing Countries. Yannis Karmokolias
No. 8 Exporting to Industrial Countries: Prospects for Businesses in Developing Countries. Economics Department, IFC
No. 9 African Entrepreneurs - Pioneers of Development. Keith Marsden
No. 10 Privatizing Telecommunications Systems: Business Opportunities in Developing Countries. William W. Ambrose, Paul R. Hennemeyer, and Jean-Paul Chapon.
No. 11 Trends in Private Investment in Developing Countries, 1990-91 edition. Guy P. Pfeffermann and Andrea Madarassy
No. 12 Financing Corporate Growth in the Developing World. Economics Department, IFC
No. 13 Venture Capital: Lessons from the Developed World for the Developing Markets. Silvia B. Sagari with Gabriela Guidotti
No. 14 Trends in Private Investment in Developing Countries, 1992 edition. Guy P. Pfeffermann and Andrea Madarassy
No. 15 Private Sector Electricity in Developing Countries: Supply and Demand. Jack D. Glen
No. 16 Trends in Private Investment in Developing Countries 1993: Statistics for 1970-91. Guy P. Pfeffermann and Andrea Madarassy
No. 17 How Firms in Developing Countries Manage Risk. Jack D. Glen
No. 18 Coping with Capitalism: The New Polish Entrepreneurs. Bohdan Wyznikiewicz, Brian Pinto, and Maciej Grabowski
No. 19 Intellectual Property Protection, Foreign Direct Investment, and Technology Transfer. Edwin Mansfield.
No. 20 Trends in Private Investment in Developing Countries 1994: Statistics for 1970-92. Robert Miller and Mariusz Sumlinski
No. 21 Radical Reform in the Automotive Industry: Policies in Emerging Markets. Peter O'Brien and Yannis Karmokolias
Page i
Debt or equity how firms in developing countries choose - image 2
INTERNATIONAL FINANCE CORPORATION
DISCUSSION PAPER NUMBER 22
Debt or Equity? How Firms in Developing Countries Choose
Jack Glen
Brian Pinto
Debt or equity how firms in developing countries choose - image 3
Page ii
Copyright 1994
The World Bank and
International Finance Corporation
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing July 1994
Second printing April 1997
The International Finance Corporation (IFC), an affiliate of the World Bank, promotes the economic development of its member countries through investment in the private sector. It is the world's largest multilateral organization providing financial assistance directly in the form of loan and equity to private enterprises in developing countries.
To present the results of research with the least possible delay, the typescript of this paper has not been prepared in accordance with the procedures appropriate to formal printed texts, and the IFC and the World Bank accept no responsibility for errors. Some sources cited in this paper may be informal documents that are readily available. The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s) and should not be attributed in any manner to the IFC or the World Bank or to members of their Board of Executive Directors or the countries they represent. The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility whatsoever for any consequence of their use.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to Director, Economics Department, IFC, at the address shown in the copyright notice above. The IFC encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, Inc., Suite 910, 222 Rosewood Drive, Danvers, Massachusetts 01923, U.S.A.
The complete backlist of publications from the World Bank, including those of the IFC, is shown in the annual Index of Publications, which contains an alphabetical title list (with full ordering information) and indexes of subjects, authors, and countries and regions. The latest edition is available free of charge from the Distribution Unit, Office of the Publisher, Department F, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, The World Bank, 66, avenue d'Ina, 75116 Paris, France.
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