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for the selected public/private companies. We formulate the Ledenyov theory on the winning virtuous strategies creation …
Persistent link: https://www.econbiz.de/10011156987
induced nonlinearities. We formulate the Ledenyov theory on the winning virtuous strategies creation toward the leveraged …
Persistent link: https://www.econbiz.de/10011107335
induced nonlinearities. We formulate the Ledenyov theory on the winning virtuous strategies creation toward the leveraged …
Persistent link: https://www.econbiz.de/10011111186
borrowers, consistent with the Pecking-Order Theory of capital structure. Discouraged borrowers resemble denied borrowers in …
Persistent link: https://www.econbiz.de/10008615019
retail-trade industries. In general, these findings are consistent with the pecking-order theory of firm capital structure … results are consistent with the financing-advantage theory of trade credit. Firms that use bank credit are larger, less …, these results are generally consistent with the pecking-order theory of capital structure, but with some notable exceptions …
Persistent link: https://www.econbiz.de/10008615030
The key contribution of this paper is an empirical examination of the financial growth life cycle model by combining a number of statistical tests. This approach is significantly different to that traditionally adopted in empirical investigations of SME financing, which is to examine the...
Persistent link: https://www.econbiz.de/10011184604
We provide empirical evidence of both (1) price dispersion and (2) credit rationing in the corporate loan market. We argue that these properties are caused by two factors: an adverse selection resulting from the information asymmetry between lenders and borrowers, and search frictions in...
Persistent link: https://www.econbiz.de/10011112699
conducted to test the two major competing theories of capital structure (Trade-Off Theory and Pecking-Order Theory), yet none of … that femaleowned firms use less leverage. In general, these results are broadly supportive of the Pecking- Order Theory and … inconsistent with the Trade-Off Theory. …
Persistent link: https://www.econbiz.de/10005621278
The article presents the initial proposal for the group risk measurement based on the comparison of two interconnected sets of webs. The risk scalar has been presented both for each separated subsidiary as well as for the group itself. It was shown the risk profile of the group could be...
Persistent link: https://www.econbiz.de/10009325682
In the lead-up to the implementation of Basel III, European banks bought back debt securities that traded at a discount. Banks engaged in these Liability Management Exercises (LMEs) to realize a fair value gain that the accounting and prudential rules exclude from regulatory capital...
Persistent link: https://www.econbiz.de/10011114168