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Structures of Corporate Finance in Germany and France - A Comparative Analysis for West German and French incorporated Enterprises
Friderichs, Hans; Paranque, Bernard - In: Journal of Economics and Statistics (Jahrbuecher fuer … 221 (2001) 5-6, pp. 648-671
The study examines the balance sheet structures of both French and west German incorporated firms in manufacturing and their evolution during the last business cycle in the late eighties and early nineties. The point of departure is to focus on the relative importance of the different financing...
Persistent link: https://www.econbiz.de/10008633387
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Corporate investment in bank-dependent companies in crisis time
Bukalska, Elżbieta; Skibińska-Fabrowska, Ilona - In: Central European economic journal 10 (2023) 57, pp. 1-22
The aim of this paper is to ascertain corporate investment reaction in bank-dependent companies in times of crisis. Our investigation covers the differences in corporate investment reaction due to the global financial crisis (GFC) of 2007-2009 and the COVID-19 crisis of 2020–2021. We utilized...
Persistent link: https://www.econbiz.de/10013502381
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Business to Business Credit to Small Firms
Mach, Traci - 2014
trajectory while small loans outstanding continued to decline. Anecdotal evidence suggests that firms used trade credit to smooth … over cash flow problems. The current paper looks at recent trends in trade credit use by small businesses based on a recent … poll done by the Credit Research Foundation. The results highlight the importance of business to business credit for small …
Persistent link: https://www.econbiz.de/10013049258
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The Value of Business Networks : An Analysis of Firm Financing in Transition Economies
Owolabi, Oluwarotimi Ayokunnu - 2009
The paper argues that the networked firms have an advantage in securing bank finance in countries with weak legal and judicial institutions. An analysis of recent BEEPS data from sixteen CEE transition countries lends some support to this hypothesis. Firms affiliated to business associations are...
Persistent link: https://www.econbiz.de/10013154767
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Topic : capital structure determinants of quoted firms in Nigeria and lessons for corporate financing decisions
Barine, Michael Nwidobie - In: Journal of finance and investment analysis 1 (2012) 2, pp. 61-81
Financial arrangements determine how and the amount of financing that can be obtained from fund providers. An optimal allocation between equity and debt is determined by the trade-off between the net tax advantage of additional corporate leverage and the costs associated with the increased...
Persistent link: https://www.econbiz.de/10009557714
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Aggregate credit supply and debt structure
Donato, James - In: The journal of corporate accounting & finance 33 (2022) 3, pp. 119-139
Persistent link: https://www.econbiz.de/10013332482
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Reallocation of corporate resources and managerial incentives in internal capital markets
Brusco, Sandro; Panunzi, Fausto - 2002
Diversified firms often trade at a discount with respect to their focused counterparts. The literature has tried to explain the apparent misallocation of resources with lobbying activities or power struggles. We show that diversification can destroy value even when resources are efficiently...
Persistent link: https://www.econbiz.de/10011410226
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How do dynamic financing decisions explain the behavior of dividend payout policies? : an empirical study of listed Pakistani manufacturing firms
Bashir, Zahid; Rafique, Zulqurnain Zeeshan; Toor, … - In: Financial internet quarterly 18 (2022) 1, pp. 1-15
The study investigates the factors that influence dividend payout policy in public Pakistani manu- facturing companies throughout the timeframe 2010-20. Pooled OLS technique was used for regression purposes, as the majority of companies do not pay a dividend at all or do not do so regularly so...
Persistent link: https://www.econbiz.de/10013252615
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Topics in Finance, Part V - Capital Structure
Laux, Judith A. - 2010
Continuing this series on the theory of financial management, the current article investigates capital structure, offering insight into the roles of stockholder wealth maximization, the risk-return trade-off, and agency conflicts. Much literature addresses this topic, and some of the most recent...
Persistent link: https://www.econbiz.de/10013136319
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Aggregate Risk and the Choice between Cash and Lines of Credit
Acharya, Viral V. - 2012
between cash and bank credit lines. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms … with high aggregate risk find it costly to get credit lines and opt for cash in spite of higher opportunity costs and … liquidity premium. Likewise, in times when aggregate risk is high, firms rely more on cash than on credit lines. We verify these …
Persistent link: https://www.econbiz.de/10013102858