Now showing items 1-3 of 3

    • Capital structure choice of foreign subsidiaries: evidence from multinationals in Brazil 

      Werlang, Sérgio Ribeiro da Costa; Novaes, Walter
      Is the capital structure choice of a foreign subsidiary different from the choice of a comparable company controlled by nationals? If so, what are the differences? In this paper we shed some light on these questions by ...
    • Financial integration and public financial institutions 

      Werlang, Sérgio Ribeiro da Costa; Novaes, Walter
      This article highlights the problems associated with the existence of financiai institutions owned by a State which is a member of a federation. We show that these financiai institutions allow the States to transfer deficits ...
    • Inflationary bias and state owned financial institutions 

      Novaes, Walter; Werlang, Sérgio Ribeiro da Costa
      This article explains why the existence of state owned financial institutions makes it more difficult for a country to balance its budget. We show that states can use their financiaI institutions to transfer their deficits ...