Using a sample of Taiwan firms over the period of 2001 to 2005, this study investigates the relationship between internationalization and a firm's capital structure, measured by the leverage ratio. Univariate tests show that multinational corporations (MNCs) are significantly less leveraged than...

This study investigates whether the equity agency problems of firms with foreign operations mitigate after 2005, when the revised accounting standards on consolidated financial statements were implemented in Taiwan. A sample of listed Taiwanese firms announcing security offerings from 2000 to...