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The role of sponsor and external management on the capital structure of Asian-Pacific REITs: the case of Australia, Japan, and Singapore
Chen, Dong; Gao, Yanmin; Kaul, Mayank; Leung, Charles Ka Yui - Volkswirtschaftliche Fakultät, … - 2014
This paper studies how the presence of sponsor and external management affect leverage and debt maturity decisions in … opt for higher levels of leverage and loans with longer maturity. On the contrary, externally managed REITs are associated … with lower leverage and loans with shorter maturity. Our results are robust to the inclusion of other firm variables and to …
Persistent link: https://www.econbiz.de/10011111075
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Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition
Bischoff, Oliver - 2015
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 …
Persistent link: https://www.econbiz.de/10013024843
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Technical progress and maturity in a Kaleckian model of growth with an endogenous employment rate
Taro, Abe - Volkswirtschaftliche Fakultät, … - 2012
state. We also assume that capital accumulation is a decreasing function in employment to consider maturity which defines …
Persistent link: https://www.econbiz.de/10011114362
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The development of capital market and its impact on providing alternative sources of business financing: Empirical analysis
Govori, Fadil - Volkswirtschaftliche Fakultät, … - 2014
We survey 500 business firms about the initial capital and its adequacy for business startup, how much the banking system meets the needs of business firms for loans, need for new sources of financing, if businesses possess sufficient information regarding the capital market, whether the lack of...
Persistent link: https://www.econbiz.de/10011114339
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Economic and legal advantages to business financing through the issuance of bonds
Sojeva, Diamanta - Volkswirtschaftliche Fakultät, … - 2015
In this paper we treat economic and legal advantages to firms in business financing through the issuance of bonds. Besides theoretical analysis paper includes the empirical analysis, a survey conducted in 50 businesses, including individual businesses and corporations, about the types of...
Persistent link: https://www.econbiz.de/10011196664
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Islamic Finance: Debt versus Equity Financing in the Light of Maqasid al-Shari'ah
Yusof, Eddy; Fahmy, Ezry; Kashoogie, Jhordy; Anwar … - Volkswirtschaftliche Fakultät, … - 2009
A hot topic among Islamic economists is the debt versus equity debate. Which of the two are more in line with justice and equality? Which of them is more productive in fulfilling the greater objectives of the Shariah? This paper is divided into sections. After the introduction, it is followed by...
Persistent link: https://www.econbiz.de/10008636465
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Effects of streaming loans for commodity producers
Bell, Peter Newton - Volkswirtschaftliche Fakultät, … - 2014
This paper analyzes a source of financing for commodity producers known as a streaming loan, where the producer makes periodic payments in proportion to their level of production. Streaming loans functions like a cropshare contract, whereas fixed rate debt is like a wage contract. Thus,...
Persistent link: https://www.econbiz.de/10011274399
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Why do firms issue equity? Some evidence from an emerging economy, India
Saumitra, Bhaduri - Volkswirtschaftliche Fakultät, … - 2012
In contrast to the existing empirical research on the pecking order hypothesis which has been largely confined to the United States and a few other advanced countries, this paper attempts to test the hypothesis for an emerging economy through a case study of the Indian Corporate sector. A well...
Persistent link: https://www.econbiz.de/10011258879
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Determinants of Capital Structure: Evidence from a Major Emerging Market Economy
Bülent, Köksal; Cüneyt, Orman; Arif, Oduncu - Volkswirtschaftliche Fakultät, … - 2013
provide evidence that firms adjust their leverage towards the industry median, that firms match the maturity of their assets …
Persistent link: https://www.econbiz.de/10011259490
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Preserving "Debt Capacity" or "Equity Capacity": A Dynamic Theory of Security Design under Asymmetric Information
Inderst, Roman; Vladimirov, Vladimir - Volkswirtschaftliche Fakultät, … - 2012
In a dynamic model of optimal security design, we show when firms should preserve "equity capacity" through choosing high target leverage or "debt capacity" through choosing low target leverage. Thereby, firms reduce a problem of underinvestment or overinvestment when they must raise future...
Persistent link: https://www.econbiz.de/10011259963