Financial Market Imperfections and Corporate Decisions - Lessons from the Transition Process in Hungary

Preface

Contents

1 Introduction

2 Financial market imperfections and corporate decisions: theory and evidence

2.1 Introduction

2.2 Financial market imperfections, investment and cycles

2.3 Financial market imperfections and corporate capital structure

3 The transformation of the Hungarian financial system

3.1 Introduction

3.2 Macroeconomic background

3.3 Liberalisation, privatisation and financial development

3.4 Financial sector reform

3.5 Looking ahead: Hungary and the Euro

3.6 Conclusions

4 Patterns of corporate financial positions

4.1 Introduction

4.2 Related literature

4.3 Methodology

4.4 Sectional distributions in the overall sample

4.5 Sectional distributions by sub- sample

4.6 Distribution dynamics

5 The determinants of corporate capital structure

5.1 Introduction

5.2 The theory

5.3 Data and descriptive statistics

5.4 Methodology

5.5 Results

6 Financial constraints and investment decisions

6.1 Introduction

6.2 Related literature

6.3 Data description

6.4 Methodology

6.5 Results

Appendix: the accelerator model

7 Conclusions

Data appendix

Data description

References