This note investigates the role of institutional differences at the local level as determinants of firms' capital structure. Specifically, its aim is to empirically assess whether and to what extent SMEs' financial decisions are affected by local financial development – evaluating this...

This paper investigates the role of institutional differences at the local level as determinants of firms’ capital structure. Specifically, its aim is to empirically assess whether and to what extent SMEs’ financial decisions are affected by local financial development – evaluating this...

Previous empirical financial studies have paid little attention to the role of diversification strategy on financial choices. This study analyses the financing strategies of multibusiness firms, suggesting the relevance of sorting the diversification phenomena into its related and unrelated...

Corporate investment is a critical factor in the overall activity of the economic and capital markets. Although the level of financial constraints plays an important role in the investment decisions of companies, the nature of the relationship continues to dominate the ongoing theoretical...

The aim of this study is to analyse the financing choices of multibusiness firms, in terms of debt-maturity. The results suggest that the degree of product diversification and the direction of diversification (related or unrelated) translate into different corporate financial behaviours. In...

<title>Abstract</title>This paper investigates the role of moderators in affecting the relationship between ownership and value. The results generally reveal a positive influence of blockholders on performance, that is significantly affected by moderating factors. The link becomes negative in listed firms, as...

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Empirical studies are yet to answer the basic question regarding why firms diversify and what affects this choice. The present study attempts to answer this question using data from British and German firms. The results show different effects of ownership concentration and financial variables on...