The potential conflicts of interest between managers, stockholders and debtholders influence capital structure, corporate governance activities and investment policies, which, in turn, could give rise to inefficient managerial decisions and suboptimal investments that generally fall under the...

This paper is a tentative to integrate, using a heterodox approach, the capabilities perspective, that raises the role of the manager's competences, and the incomplete contract perspective, that raises the role of agency problems, to describe how the corporate governance relationships work in...

Previously, empirical financial studies paid little attention to the role of diversification strategy on financial choices. The aim of the present study is to analyze the financing strategies of multibusiness firms, suggesting the relevance of sorting the diversification phenomena into its...

The present study adds to the growing literature on the relationships between institutions and capital structure decisions. Specifically, it investigates capital structure determinants for small and medium sized firms in terms of institutional differences at the local level, taking into...

This paper responds to the general call for integration between finance and strategy research by examining how financial decisions are related to corporate strategy. In particular, the paper focuses on the link between capital structure and strategy. Corporate strategies complement traditional...

The present study explains both capital-structure and debt-maturity choices for small and medium-size Italian firms in terms of institutional differences at the local level, taking into consideration local financial development, the effectiveness of the local enforcement system, and other...

Previous empirical financial studies have paid little attention to the role of diversification strategy on financial choices. This study analyses the financing strategies of multibusiness firms, suggesting the relevance of sorting the diversification phenomena into its related and unrelated...