http://findarticles.com/p/articles/mi_hb3265/is_nSPEISS_v34/ai_n28649849/?tag=content;col1 (Size by itself or in conjunction with other variables is not a significant determinant of capital structure, both country and industry classifications seem to be significant determinants of capital structure. Furthermore, the country factor is even a more important determinant of capital structure among large industrials than is industry classification)
Aggarwal, Raj; Weekly, James K. (1 January 1982). "Foreign Operations of Third World Multinationals: A Literature Review and Analysis of Indian Companies". The Journal of Developing Areas. 17 (1): 13–30. JSTOR4191088.
https://ssrn.com/abstract=1317931 (transparency that reduces owner-creditor agency costs that helps creditors control business risks, such as disclosure timeliness, institutional trading activities, and enforcement of anti-insider trading laws, are associated with higher corporate debt levels. Among other transparency measures, levels of financial and governance disclosures are negatively associated with debt ratios and higher levels of audit intensity and accounting disclosures are positively associated with debt ratios. Further, transparency factors are more important for large firms and for firms in services and high technology.)
https://ssrn.com/abstract=645141 (In exchange rate fluctuations, the Closing Rate Method is preferred because the greater relative importance of foreign operations which are carried out in an independent way, vis-a-vis those which are mere extensions of the parent company's).
