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This thesis analyses the impact of tax policy on firms' leverage ratios in a balanced panel of 129 medium-sized listed … companies from II European countries from 1993 to 2005. A general model of company leverage is applied within which King's tax … finance. Various leverage measures are studied to check for the robustness of the estimated model. Total debt is then …
Persistent link: https://www.econbiz.de/10009461243
In 2005 the highest global surface temperature ever was recorded. A virtual consensus exists today among scientists that global warming is underway and that human greenhouse gas (GHG) emissions are a significant cause. Possible mitigation of climate change through reduction of net GHG emissions...
Persistent link: https://www.econbiz.de/10009464930
Este artículo aplica un modelo de dinámica empresarial para incorporar empresas cotizadas en bolsa y empresas no cotizadas, que se enfrentan a distintas fricciones financieras, donde la decisión de hacer una oferta pública inicial (OPI) es una decisión endógena de la empresa. Esto permite...
Persistent link: https://www.econbiz.de/10012525220
Current research on corporate cash holdings is set within the contemporary corporate cash-holding conceptual framework established by Opler et al. (1999), which consist of the static trade-off theory, the pecking-order theory and the free cash-flow theory. Most empirical studies on this area are...
Persistent link: https://www.econbiz.de/10009434869
The objective of this thesis is to investigate whether the corporate governance practices adopted by Chinese listed firms are associated with the quality of earnings information. Based on a review of agency and institutional theory, this study develops hypotheses that predict the monitoring...
Persistent link: https://www.econbiz.de/10009438004
In recent time, many Chinese firms have not only operated quite successfully at their home front, competing with those giant multinational companies inside China, they are also moving offshore. The short internationalisation process of Chinese firms looks both sudden and unexpected, causing many...
Persistent link: https://www.econbiz.de/10009483799
In recent years, the Chinese Government has paid increasingly close attention to the issue of environmental management and one of the subsets of this issue is the concept of green marketing. Is it possible for Chinese companies to start to make use of green marketing concepts, principles and...
Persistent link: https://www.econbiz.de/10009484621
Firms with different ownership structure behave differently. Currently there are three major ownership structures in China’s industrial sector: state enterprises, collective enterprises, and private enterprises. Market-oriented economic reform has given great autonomy to firm managers in terms...
Persistent link: https://www.econbiz.de/10009451455
Since the publication of Keynes' “General Theory of Employment, Interest, and Money” in 1936 many new ideas and solution concepts for macroeconomic problems emerged, disappeared, and were combined in order to appropriately describe macroeconomic phenomena. Nowadays, New Keynesian frameworks...
Persistent link: https://www.econbiz.de/10009429001
-nested RE models, whose parameter vector is estimated either by GMM, in Chapter 1, or by the continuous updating estimator in … variant of it covered in Durlauf and Maccini (1995). All statistics used for model comparison are evaluated at the GMM …
Persistent link: https://www.econbiz.de/10009431155