market competition. In markets with effective competition, horizontal multiple directorships turn out to be an efficient … firms have no significant influence on financial performance, irrespective of the level of competition intensity …

tradeoff theory. Firms generating high levels of profit, however, may choose to finance their investments using internal …

empirical analysis of total assets, profit rates and growth rates using a data set of 2818 Icelandic firms during the period … small size and private ownership. Another important finding is that the profit rates, or return on assets, of Icelandic … distributional regularities, namely the power law behavior of firms' size and laplacian distributions of growth and profit rates …