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Incremental financing decisions in high growth companies: pecking order and debt capacity considerations

Vanacker, T.; Manigart, S. - Vlerick Business School - 2007

This paper researches the determinants of incremental financing decisions made by high growth companies. For this … purpose, we use a longitudinal dataset, free of survivorship bias, covering the financing events of high growth companies for … failure and significant investments in intangible assets. As a result, findings suggest that high growth companies do not …

Persistent link: https://www.econbiz.de/10005243381

Leasing, Ability to Repossess, and Debt Capacity

Rampini, Adriano; Eisfeldt, Andrea - Census Bureau, Department of Commerce - 2007

This paper studies the financing role of leasing and secured lending. We argue that the benefit of leasing is that repossession of a leased asset is easier than foreclosure on the collateral of a secured loan, which implies that leasing has higher debt capacity than secured lending. However,...

Persistent link: https://www.econbiz.de/10005058642

The Impact of Market Power and Financial Flexibility on Corporate Investment Policy

Fliers, Philip T. - 2024

This study explores how market power and financial flexibility shape corporate investment policies among U.S. large and mature corporations, by estimating firm-specific, time-varying investment-to-added-value sensitivities. We find that firms with market power exhibit lower investment...

Persistent link: https://www.econbiz.de/10015052302

The impact of market power and financial flexibility on corporate investment policy

Fliers, Philip - 2024

Persistent link: https://www.econbiz.de/10015052371

Determinants of capital structure in non-financial companies

Kühnhausen, Fabian; Stieber, Harald W. - 2014

-section, we are able to show that firm size, industry leverage, industry growth and tax shield positively affect leverage ratios …

Persistent link: https://www.econbiz.de/10010399001

Testing capital structure theories using error correction models : evidence from China, India, and South Africa

Kannadhasan, M.; Thakur, Bhanu Pratap Singh; Gupta, … - In: Cogent economics & finance 6 (2018) 1, pp. 1-19

The objective of this study is to empirically examine the capital structure theories that can explain the capital structure choice made by the firms that are operating in China, India, and South Africa. The study tests the capital structure theories as a stand-alone basis as well as an...

Persistent link: https://www.econbiz.de/10011901881

Testing trade-off theory and pecking order theory under managerial overconfidence

Bukalska, Elżbieta - In: International journal of management and economics 55 (2019) 2, pp. 99-117

We address our research to the problem of managerial overconfidence and financing behavior. The aim of the paper is, hence, to ascertain the pattern of financing decisions of overconfident managers and identify the relevant capital structure theory (trade-off or pecking order theory) that can be...

Persistent link: https://www.econbiz.de/10012131516