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Research and development: financial constraints and the role of public funding for small and medium-sized enterprises
Czarnitzki, Dirk - 2002
German small and medium?sized firms (SME). Special attention is paid to the role of public R&D subsidies. For this purpose … SME in Western and East-ern Germany are compared because these regions are very different in their supply of public R …&D funding. It turns out that Western German SME are financially constrained in their R&D activities by both internal and …
Persistent link: https://www.econbiz.de/10010297688
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How Does Owners' Exposure to Idiosyncratic Risk Influence the Capital Structure of Private Companies?
Müller, Elisabeth - 2005
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the capital structure of private companies. The exposure to idiosyncratic risk is approximated by the share of personal net worth invested in one company (SNWI). Exposure to idiosyncratic risk...
Persistent link: https://www.econbiz.de/10010297423
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How Does Owners' Exposure to Idiosyncratic Risk Influence the Capital Structure of Private Companies?
Müller, Elisabeth - 2006
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the demand for loans and the capital structure. The analysis is based on a sample of small and medium-sized private companies from the United States. The exposure to idiosyncratic risk is...
Persistent link: https://www.econbiz.de/10010298013
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How does owners' exposure to idiosyncratic risk influence the capital structure of private companies?
Müller, Elisabeth - 2007
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the demand for loans and the capital structure. The analysis is based on a sample of small and medium-sized private companies from the United States. The exposure to idiosyncratic risk is...
Persistent link: https://www.econbiz.de/10010299469
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Capital structure choice and company taxation: A meta-study
Feld, Lars P.; Heckemeyer, Jost H.; Overesch, Michael - 2011
This paper provides a quantitative review of the empirical literature on the tax impact on corporate debt financing. Synthesizing the evidence from 46 previous studies, we find that this impact is substantial. In particular, the tax rate proxy determines the outcome of primary analyses. Measures...
Persistent link: https://www.econbiz.de/10010307852
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Capital structure choice and company taxation: A meta-study
Feld, Lars P.; Heckemeyer, Jost H.; Overesch, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
This paper provides a quantitative review of the empirical literature on the tax impact on corporate debt financing. Synthesizing the evidence from 46 previous studies, we find that this impact is substantial. In particular, the tax rate proxy determines the outcome of primary analyses. Measures...
Persistent link: https://www.econbiz.de/10009646599
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How does owners' exposure to idiosyncratic risk influence the capital structure of private companies?
Müller, Elisabeth - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the demand for loans and the capital structure. The analysis is based on a sample of small and medium-sized private companies from the United States. The exposure to idiosyncratic risk is...
Persistent link: https://www.econbiz.de/10008533678
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How Does Owners' Exposure to Idiosyncratic Risk Influence the Capital Structure of Private Companies?
Müller, Elisabeth - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the demand for loans and the capital structure. The analysis is based on a sample of small and medium-sized private companies from the United States. The exposure to idiosyncratic risk is...
Persistent link: https://www.econbiz.de/10005098090
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How Does Owners' Exposure to Idiosyncratic Risk Influence the Capital Structure of Private Companies?
Müller, Elisabeth - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005
This paper identifies the entrepreneur's exposure to idiosyncratic risk as an important determinant of the capital structure of private companies. The exposure to idiosyncratic risk is approximated by the share of personal net worth invested in one company (SNWI). Exposure to idiosyncratic risk...
Persistent link: https://www.econbiz.de/10005098422
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The Determinants of Capital Structure: Some Evidence from Banks
Heider, Florian; Gropp, Reint E. - 2008
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have...
Persistent link: https://www.econbiz.de/10010298024