The transactions costs of primary market issuance (Record no. 139186)

000 -LEADER
fixed length control field 02695cam a22003377a 4500
001 - CONTROL NUMBER
control field 13740894
003 - CONTROL NUMBER IDENTIFIER
control field The World Bank
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20181123120733.0
006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION
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007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION
fixed length control field cr cn|||||||||
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 041005s2004 dcu sb i000 0 eng
010 ## - LIBRARY OF CONGRESS CONTROL NUMBER
LC control number 2004620153
035 ## - SYSTEM CONTROL NUMBER
System control number (The World Bank)13740894
040 ## - CATALOGING SOURCE
Original cataloging agency DLC
Transcribing agency DLC
050 00 - LIBRARY OF CONGRESS CALL NUMBER
Classification number HG3881.5.W57
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Zervos, Sara.
245 14 - TITLE STATEMENT
Title The transactions costs of primary market issuance
Medium [electronic resource] :
Remainder of title the case of Brazil, Chile, and Mexico /
Statement of responsibility, etc Sara Zervos.
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc [Washington, D.C. :
Name of publisher, distributor, etc World Bank,
Date of publication, distribution, etc 2004]
490 1# - SERIES STATEMENT
Series statement Policy research working paper ;
Volume number/sequential designation 3424
500 ## - GENERAL NOTE
General note Title from PDF file as viewed on 10/5/2004.
504 ## - BIBLIOGRAPHY, ETC. NOTE
Bibliography, etc Includes bibliographical references.
520 3# - SUMMARY, ETC.
Summary, etc "Zervos documents the precise costs of debt and equity issuance, both domestically and internationally, for firms in Brazil, Chile, and Mexico. Costs include investment banking and legal fees, regulatory and exchange listing costs, rating agency fees, and expenditures for marketing and publishing. Her findings suggest that Brazilian firms face similar costs in issuing debt locally or abroad, whereas domestic equity issuance is nearly twice as expensive as debt. While the Chilean domestic corporate debt market is well developed by emerging market standards (size of the market and maturity of issues), Chilean firms can issue debt more cheaply internationally than at home. In addition, while equity financing is cheaper in Chile from a transaction cost perspective, over the past decade most firms have used bonds rather than shares to raise capital. This financing trend is true in all three countries. Finally, Mexican firms can issue debt at the lowest costs of the three, but face the highest equity issuing costs. In addition to documenting these features, the author sheds light on how the investor base in these countries plays a strong role in influencing the ability of firms to access domestic capital markets. This paper 'a product of the Financial Sector Operations and Policy Department' is part of a larger effort in the department to understand and promote private sector financing in emerging markets"--World Bank web site.
530 ## - ADDITIONAL PHYSICAL FORM AVAILABLE NOTE
Additional physical form available note Also available in print.
650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Corporate debt
Geographic subdivision Brazil.
650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Corporate debt
Geographic subdivision Chile.
650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Corporate debt
Geographic subdivision Mexico.
710 2# - ADDED ENTRY--CORPORATE NAME
Corporate name or jurisdiction name as entry element World Bank.
776 18 - ADDITIONAL PHYSICAL FORM ENTRY
Main entry heading Print version:
Display text Zervos, Sara.
Title The transactions costs of primary market issuance.
Place, publisher, and date of publication [Washington, D.C. : World Bank, 2004]
830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE
Uniform title Policy research working papers ;
Volume number/sequential designation 3424.
830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE
Uniform title World Bank e-Library.
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-3424">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-3424</a>

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