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Incremental financing decisions in high growth companies: pecking order and debt capacity considerations

Vanacker, T.; Manigart, S. - Vlerick Business School - 2007

This paper researches the determinants of incremental financing decisions made by high growth companies. For this … purpose, we use a longitudinal dataset, free of survivorship bias, covering the financing events of high growth companies for … failure and significant investments in intangible assets. As a result, findings suggest that high growth companies do not …

Persistent link: https://www.econbiz.de/10005243381

Pecking order and debt capacity considerations for high-growth companies seeking financing

Vanacker, Tom; Manigart, Sophie - In: Small Business Economics 35 (2010) 1, pp. 53-69

Persistent link: https://www.econbiz.de/10008526662

Leasing, Ability to Repossess, and Debt Capacity

Rampini, Adriano; Eisfeldt, Andrea - Census Bureau, Department of Commerce - 2007

This paper studies the financing role of leasing and secured lending. We argue that the benefit of leasing is that repossession of a leased asset is easier than foreclosure on the collateral of a secured loan, which implies that leasing has higher debt capacity than secured lending. However,...

Persistent link: https://www.econbiz.de/10005058642

Recentrage stratégique et politique de financement:le cas des firmes cotées en Europe (1987-2003)

Palard, Jean-Étienne - In: Revue Finance Contrôle Stratégie 10 (2007) 3, pp. 111-137

(VF)La transformation du périmètre d’activité des groupes, caractérisée depuis vingt ans par un mouvement en faveur du recentrage stratégique, a-t-elle contribué à modifier leur politique de financement? Cet article vise à analyser et à tester l’influence de la diversité...

Persistent link: https://www.econbiz.de/10005111183

Overvalued equity and financing decisions

Dong, Ming; Hirshleifer, David; Teoh, Siew Hong - Volkswirtschaftliche Fakultät, … - 2012

measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing …, the sensitivity of equity issuance and total financing to misvaluation is stronger among firms with potential growth …

Persistent link: https://www.econbiz.de/10011110898

R&D Intensity and Financing Decisions: Evidence from European Firms

ELKEMALI, Taoufik; BEN REJEB, Aymen; MATOUSSI, Hamadi - Volkswirtschaftliche Fakultät, … - 2013

-redeployable asset with higher premium risk. Second, it generates stronger growth opportunities and, third, represents a major …

Persistent link: https://www.econbiz.de/10011260341

A stubborn persistence: Is the stability of leverage ratios determined by the stability of the economy?

Hanousek, Jan; Shamshur, Anastasiya - In: Journal of Corporate Finance 17 (2011) 5, pp. 1360-1376

The choice of capital structure firms make is a fundamental issue in the financial literature. According to a recent finding, the capital structure of firms remains almost unchanged during their lives. This stability of leverage ratios is mainly generated by an unobserved firm-specific effect...

Persistent link: https://www.econbiz.de/10010574245

Family Control and Financing Decisions

Crocia, Ettore; Doukas, John A.; Gonenc, Halit - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2010

Empirical studies examining the financing decisions of the firm focus exclusively on publicly held firms, not family-controlled firms despite their economic importance. This study investigates the external financing behavior of family-controlled firms, using a comprehensive sample of 777 large...

Persistent link: https://www.econbiz.de/10008543441

Is the Stability of Leverage Ratios Determined by the Stability of the Economy?

Shamshur, Anastasiya - Center for Economic Research and Graduate Education and … - 2009

The choice of capital structure by firms is a fundamental issue in financial literature. According to a recent finding, the capital structure of firms remains almost unchanged during their lives meaning that leverage ratios are significantly stable over time. The stability of leverage ratios is...

Persistent link: https://www.econbiz.de/10008536801

Firm-level determinants and impacts of finance-seeking behaviour and outcomes for small and medium-sized enterprises (SMEs) in Australia

Xiang, Dong; Worthington, Andrew C.; Higgs, Helen - Department of Accounting, Finance and Economics, … - 2011

Persistent link: https://www.econbiz.de/10009351478