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-sectionally related to bank capital. When we confront the predictions with the data on bank acquisitions, we find strong support. The …
Persistent link: https://www.econbiz.de/10010287142
as a response to previous physical capital investment with an ultimate goal of inducing higher rates. Theoretical models …) and gross investment (INV) in physical capital. The evidence accruing from a dynamic panel data estimation indicates an … with the notion that the size of the firm´s investment project can impose a restriction on the amount of new debt. The …
Persistent link: https://www.econbiz.de/10010265976
capital structure choice under corporate taxation, focusing on the financing and investment decisions a firm is typically …
Persistent link: https://www.econbiz.de/10011435351
study the relationship between the capital structure of regulated firms, regulated prices, and investments, and examine if … has a positive and significant effect on their investment levels. Our results are consistent with the theory that …
Persistent link: https://www.econbiz.de/10010312393
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have...
Persistent link: https://www.econbiz.de/10010298024
capital structure are highlighted through separately observing debt and equity and their relationship to investment …
Persistent link: https://www.econbiz.de/10010307836
The paper shows that mispriced deposit insurance and capital regulation were of second order importance in determining the capital structure of large U.S. and European banks during 1991 to 2004. Instead, standard cross-sectional determinants of non-financial firms’ leverage carry over to...
Persistent link: https://www.econbiz.de/10011605142
The trade-off theory on capital structure is tested by modelling the capital structure target as the solution to a maximization problem. This solution maps asset volatility and loss given default to optimal leverage. By applying nonlinear structural equation modelling, these unobservable...
Persistent link: https://www.econbiz.de/10010263749
direct investments on the financial results of Istrian hoteliers. Analyse of Istrian hotel companies business performance has … many, such as seasonality, lack of high class hotels and quality greenfield investments. …
Persistent link: https://www.econbiz.de/10011533279
borderline between investment grade and junk. Finally, we are able to empirically exclude a large number of alternative …
Persistent link: https://www.econbiz.de/10010308570