Showing 1 - 10 of 12,899
Persistent link: https://www.econbiz.de/10010475183
We estimate the incremental financing decision for a sample of some 150Dutch companies for the years 1984 through 1997 …, we estimate a multinomial logit model whichconfirms several predictions of both the static trade-off theory and … thepecking-order theory as to the determinants of financing choices. Next, weuse ordered probit models to determine which …
Persistent link: https://www.econbiz.de/10010325022
managers perceive particular instruments of internal and external financing. We find, that firms follow pecking order theory … for working capital financing, however the arguments for pecking order theory in investment financing are not that strong …
Persistent link: https://www.econbiz.de/10010322315
Recent contributions on offshoring often assume that firms can freely split their production process into separate steps which can be ranked according to the cost savings from producing abroad. We replace this assumption by the notion of a technologically determined sequence of production steps....
Persistent link: https://www.econbiz.de/10010275670
Recent contributions on offshoring often assume that firms can freely split their production process into separate steps which can be ranked according to the cost savings from producing abroad. We replace this assumption by the notion of a technologically determined sequence of production steps....
Persistent link: https://www.econbiz.de/10011430068
We study the effects of investor protection on the availability of external finance, entrepreneurship, and creation of new firms in an equilibrium search model of private capital markets. In addition to search frictions, we examine contract frictions, specifically interim and ex post moral...
Persistent link: https://www.econbiz.de/10010284922
In this paper we explain the apparent ''diversification discount'' of conglomerates without assuming inefficient-cross subsidisation through internal capital markets. Instead we assume that an internal capital market efficiently redistributes scare resources across a conglomerate's divisions...
Persistent link: https://www.econbiz.de/10011608838
with a finite decision. This paper suggests that this agonistic approach needs de-cisions or simply put, temporary … decisions drawn from seeing a decision as a solution for now. A de-cision is not a no-decision, but a decision recognised as … planning process from being a matter of reaching a finite decision to a strife about how to understand the present and which …
Persistent link: https://www.econbiz.de/10014442545
The paper investigates whether the presence and tenure of Private Equity (PE) investment in European companies improves their performance. Previous studies documented the unambiguous merit of a buyout during the 1980s and 1990s for listed firms in the US and UK markets. This study analyzes such...
Persistent link: https://www.econbiz.de/10010291781
crowdinvesting despite alternative funding sources, which suggests that the decision for crowdinvesting is voluntary. Often …
Persistent link: https://www.econbiz.de/10011382967