) which factors - country- or firm-specific - are more relevant in explaining leverage in Poland, (2) which theory - trade … itself mainly in gradual increase in debt ratios with a dominant role of short-term debt, along with the decrease in the … importance of country-specific factors (especially in large-sized, listed firms). The signs of the associations between leverage …

operating in countries with stronger governance decrease their leverage while increasing their debt maturity. Specifically, we … show that they decrease their reliance on short-term debt issuance while they increase their reliance on long-term debt and …

Regulation and subsequent deregulation significantly affect firms' debt decisions. Prior to deregulation, regulated … firms depend significantly more on long-term and public debt but reduce this dependence considerably during deregulation …. Cross-sectional analysis shows that the reduction in the use of long-term and public debt results from changing firm …

. By looking at 5,500 issues over the period 2005-2012, we find that in recent years the sovereign debt market turbulence … premium due to the negative spillovers from the sovereign debt crisis, while German firms got a discount of 40 basis points. …

unconstrained firms, results accord with the strategic debt model: leverage increases more in response to rises in corporate …Corporate leverage responds differently to employees' rights in bankruptcy depending on whether it is driven by … their impact on leverage, exploiting time-series, cross-country and firm-level variation in the data. For financially …

creditors to grant concessions outside formal bankruptcy. We study the joint impact of the two indexes on a firm's leverage … policy. We show that the two indexes have at most a statistically weak effect on the level of long-term debt. Instead, the … two indexes affect the distribution of long-term debt into bank debt, public debt and private placements. Bank debt …