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 …

with agency theory, we can show that the leverage level is the lowest if the founding family is simultaneously a large …) 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 …

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 … has a positive and significant effect on their investment levels. Our results are consistent with the theory that …

runs, and the interplay between monetary policy and Basel-like capital ratios. In equilibrium, bank leverage depends … rates. A monetary restriction reduces leverage, while a productivity or asset price boom increases it. Procyclical capital … anticyclical capital ratios and a response of monetary policy to asset prices or leverage. …