Coventry University

About: Coventry University is a education organization based out in Coventry, United Kingdom. It is known for research contribution in the topics: Population & Higher education. The organization has 4964 authors who have published 12700 publications receiving 255898 citations. The organization is also known as: Lanchester Polytechnic & Coventry Polytechnic.

The Comparative Inclusive Human Development of Globalisation in Africa

Abstract: This study examines the impact of globalisation on inclusive human development in 51 African countries for the period 1996–2011 with particular emphasis on income levels (low income vs. middle income), legal origins (English common law vs. French civil law), resource wealth (oil-rich vs. oil-poor), landlockedness (landlocked vs. unlandlocked), religious domination (Christianity vs. Islam) and political stability (stable vs. unstable). The empirical evidence is based on instrumental variable panel Fixed effects and Tobit regressions in order to control for the unobserved heterogeneity and limited range in the dependent variable. Political, economic, social and general globalisation variables are used. Six main hypotheses are investigated. The findings broadly show that middle income, English common law, oil-poor, unlandlocked, Christian-oriented and politically-stable countries are associated with comparatively higher levels of globalisation-driven inclusive human development. Puzzling findings are elucidated and policy implications discussed.

Debt Maturity Structure of Chinese Companies

Abstract: Numerous studies have focused on the theoretical and empirical aspects of corporate capital structure since the 1960s. As a new branch of capital structure, however, debt maturity structure has not yet received as much attention as the debt-equity choice. We use the existing theories of corporate debt maturity to investigate the potential determinants of debt maturity of the Chinese listed firms. In addition to the traditional estimation methods, the system-GMM technique is used to explicitly control for the endogeneity problem. We find that the size of the firm, asset maturity and liquidity have significant effects in extending the maturity of debt employed by Chinese companies. The amount of collateralized assets and growth opportunities also tend to be important. However, proxies for a firm’s quality and effective tax rate apparently report mixed or unexpected results. Debt market and equity market conditions are also examined in relation to corporate loan maturity. The system-GMM results show that market factors seem to influence debt maturity decisions. Finally, corporate equity ownership structure has also been found to have some impact on debt maturity mix.