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Financial conservatism of private firms
Bigelli, Marco; Martín-Ugedo, Juan Francisco; … - In: Journal of Business Research 67 (2014) 11, pp. 2419-2427
The aim of this paper is to analyze the factors that motivate private firms to follow a conservative financial policy. Using a new definition of financial conservatism, we investigate a sample of 21,959 Italian private firms for the 1998–2006 period and look for the determinants of financial...
Persistent link: https://www.econbiz.de/10011049937
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Financial conservatism fosters job creation during economic crises
Sánchez-Vidal, F. Javier; Hernández-Robles, Myriam; … - In: Applied economics 52 (2020) 45, pp. 4913-4926
Persistent link: https://www.econbiz.de/10012306518
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SMEs Capital Structure Decisions and Success Determinants : Empirical Evidence from the UAE
Farouk Abdel Al, Sherine - 2017
The purpose of this research is to identify the capital structure decisions and the institutional factors pivotal in female owned SMEs in the United Arab Emirates. A survey questionnaire method was used to collect data from the local female entrepreneurs, and a factor analysis was conducted to...
Persistent link: https://www.econbiz.de/10012952854
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The pecking order of innovation finance
Mina, Andrea; Lahr, Henry - 2018
This paper examines the relationship between firms' innovation activities and the hierarchy of financing behaviours. We analyse the role of innovation inputs (R&D), intermediate outputs (patents) and outcomes (product and process innovations) as sources of information asymmetry in financing...
Persistent link: https://www.econbiz.de/10011919534
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An inverse problem study : credit risk ratings as a determinant of corporate governance and capital structure in emerging markets : evidence from Chinese listed companies
Kang, ManYing; Ausloos, Marcel - In: Economies : open access journal 5 (2017) 4, pp. 1-23
negatively correlated with board size, profitability, growth opportunity, and non-debt tax shield. Credit rating is positively …
Persistent link: https://www.econbiz.de/10011778650
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Dynamic Optimal Capital Structure and Technological Change
Lööf, Hans - 2003
This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm?s equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...
Persistent link: https://www.econbiz.de/10010298124
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Excess leverage and productivity growth in emerging economies : is there a threshold effect?
Coricelli, Fabrizio; Driffield, Nigel L.; Pal, Sarmistha; … - 2010
The paper examines the relationship between leverage and growth in a group of emerging central and eastern European … moderate leverage could boost growth while very high leverage could lower it by increasing the likelihood of financial distress … beyond which further increases in leverage could lower TFP growth. -- Excess leverage ; bank efficiency ; market …
Persistent link: https://www.econbiz.de/10003944314
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Working capital management and financing decision : synergetic effect on corporate profitability
Ajibolade, Solabomi O.; Sankay, Oboh Collins - In: International journal of management, economics and … 2 (2013) 4, pp. 233-251
Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate...
Persistent link: https://www.econbiz.de/10010224764
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Dynamic optimal capital structure and technological change
Lööf, Hans - 2003
This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm's equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...
Persistent link: https://www.econbiz.de/10011448232
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How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India
Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016
Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that have been quite critical for both financial development and real economic activity. In this paper, we investigate the success of banking reforms in India where significant banking...
Persistent link: https://www.econbiz.de/10011493763