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Ordering the preference hierarchies for internal finance, bank loans, bond and share issues

Haan, Leo de; Hinloopen, Jeroen - 2002

, we estimate a multinomial logit model whichconfirms several predictions of both the static trade-off theory and … thepecking-order theory as to the determinants of financing choices. Next, weuse ordered probit models to determine which …

Persistent link: https://www.econbiz.de/10011327550

Capital structure under financing and investment externalities

Cools, Kees; Zou, Liang - 1992

Persistent link: https://www.econbiz.de/10000122483

Strategic versus financial investors : the role of strategic objectives in financial contracting

Arping, Stefan; Falconieri, Sonia - 2009

penalize poorly performing entrepreneurs by terminating their projects. Based on this tradeoff we develop a theory of financing …

Persistent link: https://www.econbiz.de/10011378146

Limiting limited liability

Dari-Mattiacci, Guiseppe - 2006

Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.

Persistent link: https://www.econbiz.de/10011349185

Outside finance, dominant investors and strategic transparancy

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2000

This article proposes a theory of corporate transparency and its determinants. We show that under imperfect product … preferred by equity holders. The theory predicts a clustering of firm characteristics that emerge when capital markets are not …

Persistent link: https://www.econbiz.de/10011316902