The purpose of this study was to investigate factors influencing corporate capital structure in private firms in Kenya. Although the capital structure issue has received substantial attention, it is noteworthy that most of the empirical work done focuses on data derived from developed economies...

Conservatism, an important feature in most high-quality reporting and most corporate may be used from it to achieve the quality of their reports. In this study, the effect of capital structure, ownership and firm size using data on conservative 50 companies listed in Tehran Stock Exchange and...

Aim of this study is to investigate the role of firm size on capital structure decisions of Turkish lodging companies. In this context, a survey questionnaire is developed and sent to unquoted Turkish lodging companies. 163 lodging companies answered the survey and they are classified according...

This paper shows that obligations from debt hinder tacit collusion if equity owners are protected by limited liability. In contrast to its advantageous commitment value in short-run competition, leverage reduces profits from infinite interaction. Contrasting uncorrelated shocks with a cyclical...

In einem kürzlich erschienenen ZfB-Beitrag schlagen Förster et al. eine Vorgehensweise für die Erfassung der Zinsschranke und ihrer Wirkung auf die zinsinduzierte Steuerersparnis vor. Dieser Beitrag nimmt kritisch dazu Stellung: Es wird gezeigt, dass die dort abgeleiteten Formeln für die...

In this paper, we try to measure the impact of the changes in French bankruptcy law in the 19th century focusing on the behaviour of economic agents as users of bankruptcy law for the sake of finding the best solution to their economic problems. Debtors used bankruptcy law in order to minimize...

This paper aims to investigate the determinants of corporate debt maturity structure using a panel of Tunisian and French listed firms. Specifically, we focus on the relevance of market timing considerations on the choice between short- and long-term debts. We find that market timing has no...