Munich Personal RePEc Archive

Corporate Responses to Currency Depreciations: Evidence from Indonesia

Agustinus, Prasetyantoko (2007): Corporate Responses to Currency Depreciations: Evidence from Indonesia.

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Abstract

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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