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Applied Economics Letters Volume 28, 2021 - Issue 10
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Research Article

Does the institutional framework affect the relationship between debt financing and firm performance in emerging countries?

Pinar Senera EDC Paris Business School, OCRE-Lab, Courbevoie, FranceCorrespondence[email protected]
,
Elif Akben-Selcukb Department of Management, Gebze Technical University, Isletme Fakultesi, Gebze/Kocaeli, Turkey
&
Fatma Didin-Sonmezc Department of Economics, Istanbul Bilgi University, Istanbul, Turkey
Pages 866-871 | Published online: 22 Jun 2020
 
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ABSTRACT

This paper investigates the impact of debt financing on firm performance and how this relationship is affected by the institutional framework in 14 emerging countries. The results show a negative relationship between debt financing and firm performance. However, this negative relationship is reversed in countries with better credit market regulations and more efficient legal systems.

JEL CLASSIFICATION:

Disclosure statement

No potential conflict of interest was reported by the authors.

Notes

1 Results are available upon request.

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