Similar Search Results

A Simple Accounting-based Valuation Model for the Debt Tax Shield

Scholze, Andreas - In: BuR - Business Research 3 (2010) 1, pp. 37-47

This paper describes a simple way to integrate the debt tax shield into an accounting-based valuation model. The market value of equity is determined by forecasting residual operating income, which is calculated by charging operating income for the operating assets at a required return that...

Persistent link: https://www.econbiz.de/10010421346

Corporate credit and leverage in the EU: Recent evolution, main drivers and financial stability implications

Beck, Thorsten; Peltonen, Tuomo; Perotti, Enrico C.; … - 2023

documents a growing role of non-bank financial intermediaries in the provision of credit to NFCs. After exploring supply and … reallocation of credit to other sectors or assets. This could generate greater systemic risk through unsustainable valuations or …

Persistent link: https://www.econbiz.de/10014327946

On the relevance of ownership structure in determining the maturity of debt

Marchica, Maria - 2008

I show that ownership by blockholding and board composition is an important determinant of corporate debt maturity structure. Using GMM methodology to control for the potential endogeneity of all regressors, I find a statistically and economically significant negative relation between shortterm...

Persistent link: https://www.econbiz.de/10010277921

Institutional ownership and cost of debt: evidence from Thailand

Thanatawee, Yordying - In: Cogent Business & Management 10 (2023) 2, pp. 1-13

This article aims to investigate whether institutional investors aid in lowering the cost of debt using a sample of 311 nonfinancial firms listed on the Stock Exchange of Thailand (SET) over 2011-2020. All data were obtained from the SETSMART database. Controlling for firm characteristics,...

Persistent link: https://www.econbiz.de/10014527543

Bridging the sustainability gap: Unraveling the interplay of sustainability disclosure and cost of debt

Mubeen, Muhammad; Arslan, Hafiz Muhammad; Ashfaq, Khurram; … - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 18 (2024) 1, pp. 181-225

In the contemporary corporate world, environmental responsibility has elevated the importance of sustainability disclosures and their impact on the cost of debt. Conducting the first comprehensive review in this domain, this study analyzed 76 articles from 2008 to 2022 using the Biblioshiny...

Persistent link: https://www.econbiz.de/10014527772

A risk management perspective on CSR and the marginal cost of debt: empirical evidence from Europe

Kordsachia, Othar - In: Review of Managerial Science 15 (2020) 6, pp. 1611-1643

This article investigates the association between CSR and marginal credit costs of European companies. We provide …. We further apply the risk management perspective on CSR to the credit market and show that the insurance-like property of … study also examines the association between CSR assurance and credit costs and provides evidence that creditors reward non …

Persistent link: https://www.econbiz.de/10014503950

Finance, control, and profitability: the influence of German banks

Elston, Julie Ann; Chirinko, Robert S. - 2004

Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German...

Persistent link: https://www.econbiz.de/10010261492

Nexus between corporate governance practices and cost of capital in PSX listed firms

Arslan, Muhammad; Abidin, Sazali - In: Cogent Economics & Finance 7 (2019) 1, pp. 1-15

The aim of this study is to examine the relationship between corporate governance (CG), in terms of its internal significance, and cost of capital (COC), based on a sample of listed firms of Pakistan Stock Exchange (PSX) over the period of 2009-2015. We used Pakistan as a case study mainly...

Persistent link: https://www.econbiz.de/10012657515

The impact of corporate governance on cost of capital: An application on the firms in the manufacturing industry in Borsa Istanbul

Doğan, Berna; Acar Boyacioğlu, Melek - In: CES Working Papers 12 (2020) 1, pp. 65-88

Corporate governance has become an important issue in the aftermath of international financial crises, corruption and corporate scandals since the 1980s. Corporate governance is a broad term and it defines the methods, structure and the processes of a company. In this context, the term corporate...

Persistent link: https://www.econbiz.de/10014496803

Capital Control, Debt Financing and Innovative Activity

Czarnitzki, Dirk; Kraft, Kornelius - 2004

The present paper first discusses theoretically the different incentives of manager- versus owner-controlled firms for investment into innovative activity. In addition, the role of debt financing is analyzed. Subsequently the results from an empirical study on the determinants of innovative...

Persistent link: https://www.econbiz.de/10010297397

1
2
3
4
5
6
7
8
9
10
Next
Last