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World Markets for Raising New Capital
Social Science Research Network
We examine the extent to which firms from different countries rely on alternative sources of capital, the locations in which they raise capital, and the factors that affect these choices. During the 1990-2001 period, firms raised about $25.3 trillion of new capital, including $4.9 trillion from abroad. International debt issuances are substantially more common than equity issuances, with debt (equity) issues accounting for 87% (9%) of all securities issued internationally, and about 20% (12%)doi:10.2139/ssrn.466540 fatcat:bhq2qdrrgzeulocww7bm7426wu