We analyze the motives and market valuation of voluntarily de-listing from the London Stock Exchange. We show that firms that de-list voluntarily are likely to have come to the market to re-balance their leverage rather than to finance their growth opportunities. During their quotation life,...

We provide a cross-country evidence on the impact of corporate and personal income taxes, and corporate governance systems on debt maturity structures and leverage using a comprehensive sample of 212,642 firm-year observations based on a sample of 19,573 firms from 24 OECD countries over the...

We test the determinants of leverage within the trade-off and pecking order framework, and the speed of adjustment to the target leverage of large and small firms quoted on a regulated (Main) and relatively unregulated market (AIM) in the UK. We find that both firm size and market of quotation...