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-redeployable asset with higher premium risk. Second, it generates stronger growth opportunities and, third, represents a major …
Persistent link: https://www.econbiz.de/10011260341
measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing …, the sensitivity of equity issuance and total financing to misvaluation is stronger among firms with potential growth …
Persistent link: https://www.econbiz.de/10011110898
-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/10011019340
This paper uses a new and comprehensive dataset to investigate the capital structure of non-financial firms in a major emerging market economy, Turkey. We study both statistical and economic significance of four types of leverage factors: Firm-specific, tax-related, industry-specific, and...
Persistent link: https://www.econbiz.de/10011259490
The aim of our research is to study the association between observed leverage and a set of explanatory variables, using panel data analysis to establish the determinants of a time varying optimal capital structure from new high-tech firms over the period 1998-2002, and to explore whether the...
Persistent link: https://www.econbiz.de/10009019717
The key contribution of this paper is an empirical examination of the financial growth life cycle model by combining a …
Persistent link: https://www.econbiz.de/10011184604
growth performances of domestic versus foreign, and publicly traded versus non-traded private manufacturing firms in a major … tests suggest that exchange rate volatility has a significant growth reducing effect on manufacturing firms. However, having …
Persistent link: https://www.econbiz.de/10011111495
face random and lumpy investment opportunities in R&D. High growth rates of innovations, possibly higher than the real rate … patent and trademark office that minimizes the legal uncertainty surrounding patents as collateral and maximizes the growth …
Persistent link: https://www.econbiz.de/10011114166
The firm growth dynamics is an important topic since the growth performance of firms is the main source of the economic … growth in countries. Generally, crises produce a sharp decline in firms’ growth and this leads to a decline in both the level … of employment and the income of households. This paper focuses on the role of firm leverage on the growth performance of …
Persistent link: https://www.econbiz.de/10011258514
We examine whether performance-sensitive debt (PSD) is used to reduce hold-up problems in long-term lending relationships. We find that the use of PSD is more common in the presence of a long-term lending relationship and if the borrower has fewer financing alternatives available. In syndicated...
Persistent link: https://www.econbiz.de/10010904039