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The dynamics of capital structure in transition economies

Nivorozhkin, Eugene - EconWPA - 2003

’ target financial leverage and the speed of adjustment to it in two transition economies, the Czech Republic and Bulgaria. We … explicitly model the adjustment of companies’ leverage to a target leverage, and this target leverage is itself explained by a … under investigation. Bulgarian companies adjusted much faster to the target leverage than Czech firms. The speed of …

Persistent link: https://www.econbiz.de/10005412747

increasing returns and strategic behavior:the worker/firm ratio

vassilakis, spyros - EconWPA - 2002

Persistent link: https://www.econbiz.de/10005134456

Firm size and export performance: some empirical evidence

Gabbitas, Owen; Gretton, Paul - EconWPA - 2003

This paper uses firm level data collected by the Australian Bureau of Statistics in its Business Longitudinal Survey to help fill the information gap about the characteristics of successful exporters. This study suggests that the main influences on export performance of Australian manufacturing...

Persistent link: https://www.econbiz.de/10005062584

Size and Efficiency in African Manufacturing Firms:Evidence from Firm-Level Panel Data

Söderbom, Måns; Teal, Francis - EconWPA - 2004

Three dimensions of the performance of firms in Ghana’s manufacturing sector are investigated in this paper: their technology and the importance of technical and allocative efficiency. We show that the diversity of factor choices in not due to a non-homothetic technology. Observable skills are...

Persistent link: https://www.econbiz.de/10005118707

Does firm size really affect earnings?

Söderbom, Måns; Teal, Francis; Wambugu, Anthony - EconWPA - 2004

In this paper we investigate the implications of labour and capital market imperfections for the relationship between firm size and earnings. To establish that such a question is of interest we need to show that the firm size-wage effect cannot be explained by either the observed or unobserved...

Persistent link: https://www.econbiz.de/10005118838

Stock Valuation and Investment Strategies

Chen, Zhiwu; Dong, Ming - EconWPA - 2004

This article studies the relative investment performance of several stock-valuation measures. The first is mispricing based on the valuation model developed by Bakshe and Chen (1998)and extended by Dong (1998) (hereafter, the BCD model). The BCD model relates, in closed form, a stock's fair...

Persistent link: https://www.econbiz.de/10005561689

Corporate Finance in Europe from 1986 to 1996

DELBREIL, Michel; ESTEBAN, Ana; FRIDERICHS, Hans; … - EconWPA - 2000

After publishing its first report in September 1997, the Own Funds Working Group, in agreement with the European Committee of Central Balance Sheet Offices, decided to continue its work in order to gain a better understanding of the differences in financing structures between countries. To this...

Persistent link: https://www.econbiz.de/10005413207

How Ownership Structure Affects Capital Structure and Firm Performance? Recent Evidence from East Asia

Driffield, Nigel; Mahambare, Vidya; Pal, Sarmistha - EconWPA - 2005

-specific and the effects of ownership structure on firm performance cannot be delineated from its effects on leverage. More …

Persistent link: https://www.econbiz.de/10005076974

How Ownership Structure Affects Capital Structure and Firm Performance? Recent Evidence from East Asia

Driffield, Nigel; Mahambare, Vidya; Pal, Sarmistha - EconWPA - 2005

cannot be delineated from its effects on leverage. As such, the results presented here confirm and extend the essential …

Persistent link: https://www.econbiz.de/10005076997

Debt-Deflation: Concepts, and a Stylised Model

Peter, Goetz von - EconWPA - 2005

This paper proposes a model of how agents adjust their asset holdings in response to losses in general equilibrium. By emphasising the relation between deflation and financial distress, we capture some original features of the early debt-deflation literature, such as distress selling,...

Persistent link: https://www.econbiz.de/10005126279