Purpose – This paper aims to examine the link between financing patterns, information asymmetry and legal traditions in 37 countries during the 1990-2004 period. Design/methodology/approach – The analysis is based on three theories: the trade-off theory, pecking order hypothesis and market...

Purpose – The purpose of this paper is to provide a comprehensive initial evaluation of the changing issuer objective and partial price adjustment hypotheses as applied to carve-out parent initial and three-year returns for the period 1988-2006. Design/methodology/approach – Using five...

Purpose – This paper aims to contribute to the existing finance literature on capital structure by examining the long-run equity performance of the firms that employ extremely conservative debt policy – zero leverage for three or five consecutive years. Design/methodology/approach – This...

Purpose – The purpose of this study is to delineate the factors influencing the use of financial derivatives by non-financial firms in managing their exchange rate exposure. In total, 219 non-financial firms are surveyed in regard to their financial hedging decision. Design/methodolgy/approach...

Purpose – The purpose of this study is to delineate the factors influencing the use of financial derivatives by non-financial firms in managing their exchange rate exposure. In total, 219 non-financial firms are surveyed in regard to their financial hedging decision....

Purpose – This paper aims to examine the link between financing patterns, information asymmetry and legal traditions in 37 countries during the 1990‐2004 period. Design/methodology/approach – The analysis is based on three theories: the trade‐off theory, pecking order hypothesis and...

Purpose -The purpose of this paper is to investigate the determinants of capital structure using a cross-section sample of 1,481 non-financial firms listed on the Chinese stock exchanges in 2011. Design/methodology/approach -Employing four leverage measures (total leverage and long-term leverage...

Purpose -The purpose of this paper is to review recent research on the structure of equity ownership and its impact on firm value. In doing so, the paper outlines the main issues, surveys the more recent work, and highlights the most promising developments on this topic....

Purpose -The purpose of this paper is to add to the existing literature by examining a number of hypotheses relating to the capital structure decision in relation to the firms’ size, namely by distinguishing among micro, small and medium firms. Design/methodology/approach - The paper examines...