Please use this identifier to cite or link to this item: https://hdl.handle.net/10321/3147
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dc.contributor.authorMugova, Shameen_US
dc.date.accessioned2018-09-17T06:42:48Z-
dc.date.available2018-09-17T06:42:48Z-
dc.date.issued2017-
dc.identifier.citationMugova, S. 2017. Financial sector development & firm growth in BRICS countries. Risk Governance and Control: Financial Markets & Institutions. 7(4-1): 126-134.en_US
dc.identifier.issn2077-429X (print)-
dc.identifier.issn2077-4303 (online)-
dc.identifier.urihttp://hdl.handle.net/10321/3147-
dc.description.abstractThe development of an economy’s financial sector facilitates improved access to capital. This study focuses on firm growth in terms of how much assets it controls and BRICS is chosen as the empirical medium of investigation. The impact financial sector development on firm growth amongst 3353 listed firms in BRICS countries is investigated using a GMM estimation technique. Firm’s investment in assets increases the organizational resources and productive capacity needed to achieve growth in the market. Financial sector development improves access to capital and firms with higher access to external finance pursue growth opportunities using debt. Financial sector development helps firms to adjust their capital structures quickly thereby minimizing the costs of staying off target. The speed of adjustment of firms towards their target capital structure facilitates financing of firm growth. The study found that listed firms in Brazil, Russia India, China and South Africa have a target total liabilities-to-total assets ratio and financial sector development helps firms to partially adjust towards target levels and pursue growth opportunities.en_US
dc.format.extent9 pen_US
dc.language.isoenen_US
dc.publisherVirtus Interpressen_US
dc.relation.ispartofRisk governance & control: financial markets & institutions (Online)en_US
dc.subjectFinancial Sector Developmenten_US
dc.subjectFirm Growthen_US
dc.subjectTotal Liabilitiesen_US
dc.titleFinancial sector development & firm growth in BRICS countriesen_US
dc.typeArticleen_US
dc.publisher.urihttps://www.virtusinterpress.org/IMG/pdf/rgc7i4c1art4.pdfen_US
dc.identifier.doihttps://doi.org/10.22495/rgc7i4c1art4-
item.fulltextWith Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.languageiso639-1en-
item.openairetypeArticle-
item.grantfulltextopen-
item.cerifentitytypePublications-
Appears in Collections:Research Publications (Management Sciences)
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