{"id":"https://openalex.org/W1987966078","doi":"https://doi.org/10.2753/ree1540-496x4805s309","title":"Macroeconomic Conditions and Capital Structure over the Business Cycle: Further Evidence in the Context of Taiwan","display_name":"Macroeconomic Conditions and Capital Structure over the Business Cycle: Further Evidence in the Context of Taiwan","publication_year":2012,"publication_date":"2012-09-01","ids":{"openalex":"https://openalex.org/W1987966078","doi":"https://doi.org/10.2753/ree1540-496x4805s309","mag":"1987966078"},"language":"en","primary_location":{"id":"doi:10.2753/ree1540-496x4805s309","doi":"https://doi.org/10.2753/ree1540-496x4805s309","is_oa":false,"landing_page_url":"https://doi.org/10.2753/ree1540-496x4805s309","pdf_url":null,"source":{"id":"https://openalex.org/S166264140","display_name":"Emerging Markets Finance and Trade","issn_l":"1061-2009","issn":["1061-2009","1540-496X","1558-0938"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Emerging Markets Finance and Trade","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5072429580","display_name":"Hsien-Hung Yeh","orcid":"https://orcid.org/0000-0002-9153-722X","observed_orcids":["https://orcid.org/0000-0002-9153-722X"]},"institutions":[{"id":"https://openalex.org/I16566446","display_name":"National Pingtung University of Science and Technology","ror":"https://ror.org/01y6ccj36","country_code":"TW","type":"education","lineage":["https://openalex.org/I16566446"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"Hsien-Hung H. Yeh","raw_affiliation_strings":["a  Department of Business Administration, National Pingtung University of Science and Technology, Pingtung, Taiwan","Department of Business Administration, National Pingtung University of Science and Technology, Pingtung, Taiwan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"a  Department of Business Administration, National Pingtung University of Science and Technology, Pingtung, Taiwan","institution_ids":["https://openalex.org/I16566446"]},{"raw_affiliation_string":"Department of Business Administration, National Pingtung University of Science and Technology, Pingtung, Taiwan","institution_ids":["https://openalex.org/I16566446"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5013472934","display_name":"Eduardo Roca","orcid":"https://orcid.org/0000-0002-1542-8208","observed_orcids":["https://orcid.org/0000-0002-1542-8208"]},"institutions":[{"id":"https://openalex.org/I11701301","display_name":"Griffith University","ror":"https://ror.org/02sc3r913","country_code":"AU","type":"education","lineage":["https://openalex.org/I11701301"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Eduardo Roca","raw_affiliation_strings":["b  Department of Accounting, Finance, and Economics, Griffith University, Queensland, Australia","(Department of Accounting, Finance and Economics, Griffith University, Queensland, Australia)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"b  Department of Accounting, Finance, and Economics, Griffith University, Queensland, Australia","institution_ids":["https://openalex.org/I11701301"]},{"raw_affiliation_string":"(Department of Accounting, Finance and Economics, Griffith University, Queensland, Australia)","institution_ids":["https://openalex.org/I11701301"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":3.0388,"has_fulltext":false,"cited_by_count":13,"citation_normalized_percentile":{"value":0.92069233,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"48","issue":"sup3","first_page":"141","last_page":"156"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9721999764442444,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9721999764442444,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.012799999676644802,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.003599999938160181,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.8339999914169312},{"id":"https://openalex.org/keywords/macroeconomic-conditions","display_name":"macroeconomic conditions","score":0.9330000281333923},{"id":"https://openalex.org/keywords/business-cycles","display_name":"business cycles","score":0.847000002861023},{"id":"https://openalex.org/keywords/procyclicality","display_name":"procyclicality","score":0.7480000257492065},{"id":"https://openalex.org/keywords/debt-ratio","display_name":"debt ratio","score":0.8759999871253967},{"id":"https://openalex.org/keywords/asian-financial-crisis","display_name":"Asian financial crisis","score":0.8270000219345093},{"id":"https://openalex.org/keywords/petrochemical-industry","display_name":"petrochemical industry","score":0.984000027179718},{"id":"https://openalex.org/keywords/textile-industry","display_name":"textile industry","score":0.9879999756813049},{"id":"https://openalex.org/keywords/electronics-industry","display_name":"electronics industry","score":0.9980000257492065},{"id":"https://openalex.org/keywords/taiwan","display_name":"Taiwan","score":0.7950000166893005}],"concepts":[{"id":"https://openalex.org/C83873408","wikidata":"https://www.wikidata.org/wiki/Q192311","display_name":"Business cycle","level":2,"score":0.6749953627586365},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5772268176078796},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5362282395362854},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.5214678049087524},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.5188223719596863},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.5161626935005188},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.5069277882575989},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5018057823181152},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.4596107006072998},{"id":"https://openalex.org/C2781291010","wikidata":"https://www.wikidata.org/wiki/Q178580","display_name":"Period (music)","level":2,"score":0.4211598038673401},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.3692517876625061},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.2836606502532959},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C24890656","wikidata":"https://www.wikidata.org/wiki/Q82811","display_name":"Acoustics","level":1,"score":0.0},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.2753/ree1540-496x4805s309","doi":"https://doi.org/10.2753/ree1540-496x4805s309","is_oa":false,"landing_page_url":"https://doi.org/10.2753/ree1540-496x4805s309","pdf_url":null,"source":{"id":"https://openalex.org/S166264140","display_name":"Emerging Markets Finance and Trade","issn_l":"1061-2009","issn":["1061-2009","1540-496X","1558-0938"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Emerging Markets Finance and Trade","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:mes:emfitr:v:48:y:2012:i:s3:p:141-156","doi":null,"is_oa":false,"landing_page_url":"http://mesharpe.metapress.com/link.asp?target=contribution&id=F3R80137837X6737","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:taf:emfitr:v:48:y:2012:i:s3:p:141-156","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.2753/REE1540-496X4805S309","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"},{"id":"pmh:oai:research-repository.griffith.edu.au:10072/49418","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10072/49418","pdf_url":null,"source":{"id":"https://openalex.org/S7407064376","display_name":"Griffith Research Online","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.7825999855995178,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":39,"referenced_works":["https://openalex.org/W1028965422","https://openalex.org/W1495656322","https://openalex.org/W1989934033","https://openalex.org/W1990269448","https://openalex.org/W1990734868","https://openalex.org/W2001983566","https://openalex.org/W2019570669","https://openalex.org/W2025610165","https://openalex.org/W2034625637","https://openalex.org/W2052371306","https://openalex.org/W2062303950","https://openalex.org/W2063819053","https://openalex.org/W2071659251","https://openalex.org/W2074928461","https://openalex.org/W2088707108","https://openalex.org/W2089842977","https://openalex.org/W2109289095","https://openalex.org/W2111019452","https://openalex.org/W2115846503","https://openalex.org/W2122529435","https://openalex.org/W2124597406","https://openalex.org/W2126544178","https://openalex.org/W2140041112","https://openalex.org/W2153524047","https://openalex.org/W2157005718","https://openalex.org/W2160860931","https://openalex.org/W2492860421","https://openalex.org/W2732782407","https://openalex.org/W2764919111","https://openalex.org/W2988039629","https://openalex.org/W3110484148","https://openalex.org/W3121131820","https://openalex.org/W3121714890","https://openalex.org/W3122550102","https://openalex.org/W3122833903","https://openalex.org/W3124117485","https://openalex.org/W3124223064","https://openalex.org/W3149556041","https://openalex.org/W6682720931"],"related_works":["https://openalex.org/W2790907739","https://openalex.org/W3004292748","https://openalex.org/W2390888442","https://openalex.org/W2091592171","https://openalex.org/W1595489636","https://openalex.org/W3121976373","https://openalex.org/W7009865014","https://openalex.org/W7047255851","https://openalex.org/W7037881235","https://openalex.org/W2550792759"],"abstract_inverted_index":{"The":[0],"authors":[1],"examine":[2],"the":[3,9,15,24,37,60,73,76,84,87],"effect":[4,55],"of":[5,12,21,39,65],"macroeconomic":[6,50],"conditions":[7,51],"on":[8,56],"capital":[10],"structure":[11],"firms":[13,66],"in":[14,67],"petrochemical,":[16],"textile,":[17],"and":[18,30,44],"electronics":[19],"industries":[20,69],"Taiwan":[22],"during":[23,59,72,83],"period":[25,74,85],"1983-2007,":[26],"which":[27],"covers":[28],"six":[29],"a":[31,53],"half":[32],"business":[33],"cycles.":[34],"Controlling":[35],"for":[36],"effects":[38],"economic":[40],"growth,":[41],"industry":[42],"type,":[43],"firm-specific":[45],"factors,":[46],"we":[47],"find":[48],"that":[49],"have":[52],"significant":[54],"debt":[57],"ratios":[58,64],"sample":[61],"period.":[62],"Debt":[63],"these":[68],"are":[70],"procyclical":[71],"before":[75],"1997-98":[77],"Asian":[78,88],"financial":[79,89],"crisis,":[80],"but":[81],"countercyclical":[82],"after":[86],"crisis.":[90]},"counts_by_year":[{"year":2023,"cited_by_count":2},{"year":2021,"cited_by_count":2},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}