structure, finance and the structure of lending to firms, and how firms respond to the economic environment by restructuring … distribution of firms moving toward the pattern observed in the surveys of developed market economies. In finance, increasing … reliance on retained earnings in transition countries reflects a maturation of the sector as new firms come to rely less on …

natural experiment. Since the extant literature on tax effects on capital structure studies listed firms in developed … countries, it is worth investigating whether the same results apply to privately-held, small and medium size firms in transition … economies. The findings provide significant evidence that lower taxes have affected the capital structure of Croatian firms …

"Zervos documents the precise costs of debt and equity issuance, both domestically and internationally, for firms in … agency fees, and expenditures for marketing and publishing. Her findings suggest that Brazilian firms face similar costs in …), Chilean firms can issue debt more cheaply internationally than at home. In addition, while equity financing is cheaper in …

their scale. The authors argue that the main reasons for the sub-optimal size of female-owned firms are that they are both … capital constrained and concentrated in industries with small firms. "--World Bank web site …

"This paper documents several new patterns associated with firms issuing securities in foreign markets that motivate …, but a very small number of firms accounts for the bulk of international capital raisings, highlighting the distributional … intrinsically different from domestic ones. Third, after firms start accessing international markets, they significantly increase …