This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of …

political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we … leverage can both increase or decrease, depending on the type of political risk. Using the Microdatabase Direct Investment of …

) family firms are considered to be the backbone of the economy. We find that family firms have significantly lower leverage … ratios than non-family firms, independent of the definition of leverage applied. Among the three dimensions of a family firm …, management board involvement by the founding family has a consistently negative influence on leverage across all our models. In …

of non-financial firms’ leverage carry over to banks, except for banks whose capital ratio is close to the regulatory … important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time invariant targets. …

and how this interaction is affected by ownership structure. We show that firms in our sample increase their leverage … that the leverage of these firms has a positive and significant effect on regulated prices, but not vice versa, and it also … privately-controlled firms use leverage strategically to shield themselves against regulatory opportunism. …

function on too thin layer of capital - high leverage - owing to a misreading of the degree of risk embodied in ever more … complex financial products and markets. Third, the breakdown was unpredictable and inevitable, given the 'excessive' leverage … following questions: what is an optimal leverage or capital requirement that balances the expected growth against risk? What are …