Corporate Responses to Currency Depreciations: Evidence from Indonesia

Source: RePEc


This paper examines the impact of macro fluctuation on firm’s balance sheet to understand firm’s net worth as well as the corporate distress probability. We argue that debt policies could be pro-cyclical, since it enhances corporate distress risk when currency depreciation comes.

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Available from: Agustinus Prasetyantoko, Jul 25, 2014
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