The processing and transformation of natural resources into completed and semi-finished products is the primary function of industry in each nation's economy. There is no denying the significance of industry and sectoral classification of the economy, but the slow development and extension of...

Purpose This study empirically investigates the relationship between goodwill assets and capital structure (i.e. debt ratio) of firms and the moderating effect of financial market development on the relationship between goodwill assets and capital structure. Design/methodology/approach This...

This paper examines the dynamic relationship between firm leverage and risktaking. We embed the traditional agency problem of asset substitution within a multi-period model, revealing a U-shaped relationship between leverage and risktaking, evident in data from both the U.S. and Europe. Firms...