Work detail

Leasing Financing and Debt Financing - Determinants and the Linkages with the Economy

Author: Mgr. Patrícia Migová
Year: 2022 - summer
Leaders:
Consultants:
Work type: Finance, Financial Markets and Banking
Masters
Language: English
Pages: 86
Awards and prizes:
Link: https://dspace.cuni.cz/handle/20.500.11956/174091
Abstract: This study examines the macroeconomic and legal determinants of leasing financing. The dataset used in this thesis is an unbalanced panel. It includes 30
countries and covers the period between 2012 and 2020. The leasing to GDP
ratio represents the dependent variable. The key determinants are examined by
the dynamic System Generalized method of moments. The results indicate that
statistically significant macroeconomic variables are in line with the economic
theory. The borrowing interest rate and value-added tax show the most robust
results. Moreover, the value-added tax is the most important tax variable that
negatively impacts leasing, and it was the only statistically significant regulatory
variable. Furthermore, the analysis for the leasing to credit ratio is provided. The
results support the existing literature that the corporate tax rate is an important
determinant for leasing to credit ratio from the macroeconomic point of view and
not only from the firms’ perspective.
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