Macroeconomic Determinants of Corporate Debt: Evidence From North Macedonia

Authors

  • Dragica Odzaklieska St. Kliment Ohridski” University - Bitola Faculty of Economics - Prilep
  • Ilija Hristoski St. Kliment Ohridski” University - Bitola Faculty of Economics - Prilep
  • Tatjana Spaseska St. Kliment Ohridski” University - Bitola Faculty of Economics - Prilep

DOI:

https://doi.org/10.46541/978-86-7233-428-9_374

Keywords:

Corporate debt, Inflation, Interest rate, GDP, ARDL methodology

Abstract

Several important factors affect the financing of companies in North Macedonia today. The paper aims to explore how the Gross Loans to Non-Financial Sector / GDP ratio depends on the Inflation Rate, the Interest Rate of Non-financial Sector Loans, and the GDP. Based on the secondary data (quarterly time series) obtained from credible sources covering the period from 2015:Q1 to 2023:Q3, we employ the Auto-Regressive Distributed Lag (ARDL) approach to examine both the short- and long-run dependencies. The results confirm the statistically significant impact of the regressors on the dependent variable.

Published

2024-07-01

How to Cite

Odzaklieska, D., Hristoski, I. ., & Spaseska, T. . (2024). Macroeconomic Determinants of Corporate Debt: Evidence From North Macedonia. International Scientific Conference Strategic Management and Decision Support Systems in Strategic Management, 49-56. https://doi.org/10.46541/978-86-7233-428-9_374

Issue

2024: Proceedings of the 29th International Scientific Conference Strategic Management and Decision Support Systems in Strategic Management

Section

Articles