Debt threshold

The paper "Do pharmaceutical companies listed on Vietnam stock exchange have optimal capital structure? Evidence from threshold regression model" studies the impact of debt ratio on firm value of pharmaceutical companies listed on Vietnamese Stock Exchange from 2010 to 2017 by using threshold regression model. In this research, we exploit ROE and Tobin as a proxy for firm value. The results are indicators for us to give recommendations about financing policy to listed pharmaceutical for the upcoming years.

7p nhanchienthien 25-07-2023 7 5   Download

In Vietnam, recently, public debt has been a big matter that receives a lot of concerns from people in society. Especially, Foreign Newsletter No. 7 released by Ministry of Finance figured out some data that show off the scale of debt is rising and there is the risk of exceeding the threshold.

10p vipatriciawoertz 26-05-2022 14 1   Download

The study finds evidence in support of a non-linear relationship between sovereign debt accumulation and growth in Zambia. With regards to the debt-threshold effect, the tipping point for Zambia is around 40 percent of debt-to-GDP, at this point, the positive effect of debt on economic growth becomes negative. Far more importantly, policy recommendations are prescribed from these study findings.

10p lazzaro 30-12-2021 8 0   Download

This study applies panel smooth transition regression approach advanced by Gonz alez et al. (2017). The method allows for both heterogeneity as well as a smooth change of regression coefficients from one regime to another.

21p trinhthamhodang9 10-12-2020 7 0   Download

This paper extends the work of Chen and Chang (2010) and attempts to present a model for the optimal investment threshold and the real option value under price uncertainty from a different aspect of entry probability. I measure a financing policy by the debt ratio, a weight for the proportion of funding by debt relative to funding by equity. The weight is exogenously embedded in the stochastic optimization of an investment opportunity under price uncertainty. An entry probability, indicating the likelihood of an investment action optimally taken at a future time instant, is derived.

16p covid19 19-04-2020 14 1   Download

The overall objective is based on the fundamental theories of capital structure and empirical research on capital structure and financial performance of the firm, whereby the author develops and analyzes the relationship between capital structure and financial performance. It then determines the optimal debt threshold for the Tourism and travel companies (TTCs) of Hue City.

29p quenchua 28-09-2019 46 2   Download

This paper aims to provide empirical evidence of Vietnam’s public debt threshold. The data of the annual country's public debt in the 1990 - 2010 period, the threshold model by Hansen (1996, 2000), and the OLS estimation method are employed to test threshold effects and estimate the value of the public debt threshold.

9p danhnguyentuongvi27 19-12-2018 26 0   Download

Public Debt of Vietnam: Risk and Challenges. The paper aims to analyse risks and challenges of Vietnam’s public debt. The analysis is a combination of statistical descrip tion and numerical simulation. It basically shows that the public debt sustainability and liquidity are still below the conventional saf ety thresholds but the macroeconomic conditions are quickly dete-riorating as a result of the recent highly -rising p ublic debt.

19p tranminhluanluan 28-05-2018 56 2   Download

The exchange is offered at market value, so current debt holders will experience a “haircut” from par value, and thus the exchange does not involve a “bailout.” However, present holders of sovereign debt will be exchanging low quality bonds with limited liquidity, for higher quality bonds with greater liquidity. Debt holders not accepting the exchange will be at risk of a forced restructuring at a later date at terms less favorable.

7p taisaocothedung 12-01-2013 41 1   Download

The Debt Sustainability Framework sets out a proposal by the World Bank for identifying countries in actual or potential debt distress situations leading to a formula for determining grant eligibility within the amounts to be allocated during the Fourteenth Replenishment of IDA. It attempts to classify countries based on the performance of their institutions and policies and determine thresholds for selected debt indicators for each country grouping and then estimate the level of debt distress as measured by the forecast levels of the selected indicators from the country DSAs.

87p denngudo 21-06-2012 98 12   Download

. The framework summarized in the paper 1 starts with a grouping of all low income countries in accordance with the performance of institutions and effectiveness of policies followed by choices of the most appropriate thresholds for the selected debt burden indicators. It is understood that DSAs will become dynamic in nature capturing information as they become available during each replenishment period rather than holding them static for each period. The preparation of forward-looking DSAs will be a development that will take place during IDA 14.

7p thuytinh_den 11-07-2010 87 8   Download

Every year, the World Bank rates the economic, social and political performance of each borrowing government by the extent of its compliance with its own definition of “good” policies and institutions. For this purpose, it uses the CPIA. It rates the policy and institutional performance of each government relative to 20 criteria (grouped in four clusters).

8p thuytinh_den 11-07-2010 93 9   Download

Unlike in the HIPC Initiative where a single indicator – debt to exports - was used the DSF paper selects three debt ratios to judge debt sustainability. Further, country policies and institutional capability and vulnerability to shocks are other factors identified as being important for assessing a country’s debt sustainability. In particular, country policies and institutional capability are used to grade countries and determine different debt ratio thresholds for them.

9p thuytinh_den 11-07-2010 107 10   Download

The Debt Sustainability Framework sets out a proposal by the World Bank for identifying countries in actual or potential debt distress situations leading to a formula for determining grant eligibility within the amounts to be allocated during the Fourteenth Replenishment of IDA. It attempts to classify countries based on the performance of their institutions and policies and determine thresholds for selected debt indicators for each country grouping and then estimate the level of debt distress as measured by the forecast levels of the selected indicators from the country DSAs.

10p thuytinh_den 11-07-2010 123 17   Download