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We empirically investigate the effect of corporate culture on capital structure policy. This paper uses CEO replacement to identify change in corporate culture. We focus on firms that change their debt policy from zero leverage to positive leverage or from positive leverage to zero leverage at...
Persistent link: https://www.econbiz.de/10013116292
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Sustainable product innovation is a key issue facing agri-food companies to maintain and increase their competitiveness … ownership structure and capital structure play with regard to sustainable product innovation as well as whether these financing … this type of eco-innovation projects, regardless of their source of financing. On the contrary, ownership by cross …
Persistent link: https://www.econbiz.de/10013166556
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The access to capital, on adequate maturity and amounts, is one of the major constraints to sustainable development of enterprises. So, this paper aims to study the determinants of capital structure of companies in the portuguese information technology sector, which is one of the most important...
Persistent link: https://www.econbiz.de/10010503585
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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
We develop a growth model with endogenous technological progress in which the financial sector plays an explicit role. Thereby we discuss the role of different financial regimes in the growth process. We contrast a bank-dominated financial system with a market-dominated system. In the first one...
Persistent link: https://www.econbiz.de/10010405331
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …
Persistent link: https://www.econbiz.de/10010485136
We study how R&D-driven firm innovation and capital structure interact in a tradeoff model allowing for inventor … mobility, innovation strategy switches, and limited failure tolerance. Debt use reduces firms' acquirable R&D benefits by …
Persistent link: https://www.econbiz.de/10012921011