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Trade-off-theory vs. pecking order theory and the determinants of corporate leverage : evidence from a panel data analysis upon French SMEs (2002 - 2010)

Adair, Philippe; Adaskou, Mohamed - In: Cogent economics & finance 3 (2015) 1, pp. 1-11

We test the assumptions of trade-off theory (TOT) and pecking order theory (POT) regarding corporate leverage. The dependent variable being the debt ratio, we apply a linear model upon a balanced panel data-set of 2,370 French SMEs over the period 2002 - 2010. In accordance to TOT, trade credit...

Persistent link: https://www.econbiz.de/10010492381

Design and impacts of securitized leveraged buyouts

Bouvier, Laurent; Nisar, Tahir M. - In: Cogent economics & finance 3 (2015) 1, pp. 1-12

Private equity investors have traditionally used innovative financial methods in structuring their leveraged buyouts (LBO) deals. In recent years, they have frequently employed securitization to raise funds on the back of their acquisitions' operating assets. A distinctive feature of these...

Persistent link: https://www.econbiz.de/10010492383

Do initial reserves signal long-term IPO stock performance?

Cheng, Peng - In: Cogent economics & finance 3 (2015) 1, pp. 1-11

This research examines the long-run Initial Public Offerings (IPO) stock performance of a large Chinese sample, and in … particular the relationship between initial reserves (capital reserves and revenue reserves immediately after the IPO) and long …-run IPO stock performance. In general, Chinese IPOs do not underperform the market/industry benchmarks, but they significantly …

Persistent link: https://www.econbiz.de/10010492409

SMEs capital structure determinants during severe economic crisis : the case of Greece

Balios, D.; Daskalakis, N.; Eriotis, Nikolaos; … - In: Cogent economics & finance 4 (2016) 1, pp. 1-11

The objective of this paper was to explore whether and how the main capital structure determinants of SMEs affected capital structure determination in different ways during the years of economic crisis. We used panel data of 8,052 SMEs operating in Greece during 2009-2012. We found that the...

Persistent link: https://www.econbiz.de/10011450554

Predictors of firm growth in India : an exploratory analysis using accounting information

Mishra, Sibanjan; Deb, Soumya Guha - In: Cogent economics & finance 6 (2018) 1, pp. 1-26

This paper aims at identifying relevant financial factors which critically affects firm revenue growth. We specifically focus on the dynamic nature of such factors across up or down-market cycles and also for different scales and size of business. The study uses annual data of 17 accounting and...

Persistent link: https://www.econbiz.de/10012023305

Mediating role of dividend policy among its determinants and organizational financial performance

Hunjra, Ahmed Imran - In: Cogent economics & finance 6 (2018) 1, pp. 1-16

The mediating mechanism of dividend policy remained untapped between financial performance, uncertainty, corporate social responsibility (CSR) and stakeholders' interest. However, this study contributes to the body of knowledge and discovers the mediating role of dividend policy between...

Persistent link: https://www.econbiz.de/10012023315

Dividend catering, life-cycle, and policy : evidence from Indonesia

Budiarso, Novi Swandari; Subroto, Bambang; T., Sutrisno; … - In: Cogent economics & finance 7 (2019) 1, pp. 1-15

This study examines the behavior of firms in Indonesia in relation to the life-cycle and catering theories under the assumption that investors expect optimum returns on stock investments through dividends, capital gains, or both. To this end, we examine 212 firms listed on the Indonesia Stock...

Persistent link: https://www.econbiz.de/10012023394

Ownership structure influencing the joint determination of dividend, leverage, and cost of capital

Rajverma, Abhinav Kumar; Arrawatia, Rakesh; Misra, Arun … - In: Cogent economics & finance 7 (2019) 1, pp. 1-25

The article analyses inter-dependencies between dividend, capital structure, and cost of capital, factoring the ownership structure of listed firms in India, using 3SLS system approach. The study finds that family firms are dominant with concentrated ownership. Dividend, leverage, and average...

Persistent link: https://www.econbiz.de/10012023922

The impact of bank capital, bank liquidity and credit risk on profitability in postcrisis period : a comparative study of US and Asia

Abbas, Faisal; Iqbal, Shahid; Aziz, Bilal - In: Cogent economics & finance 7 (2019) 1, pp. 1-18

The purpose of this study is to explore the influence of bank capital, bank liquidity level and credit risk on the profitability of commercial banks in the postcrisis period between 2011 and 2017 in Asian developed economies in comparison with the USA banking industry. The findings show that...

Persistent link: https://www.econbiz.de/10012023980

Financing modes, risk, efficiency and profitability in Islamic banks: modeling for the GCC countries

Belkhaoui, Samir; Alsagr, Naif; Hemmen, Stefan van - In: Cogent economics & finance 8 (2020) 1, pp. 1-25

The aim of this research is to develop a conceptual model that includes variables related to financing modes, risk-taking, efficiency, and Islamic bank profitability in GCC Countries. The results indicate that the total effect of financing modes on banks' profitability is high and statistically...

Persistent link: https://www.econbiz.de/10012214701

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