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The debt structure of SMEs : an optimization model
Moro, Andrea; Lucas, Mike R.; Grimm, Uwe G. - In: Journal of entrepreneurial finance : JEF ; official … 16 (2012) 1, pp. 87-108
The existing finance literature is inadequate with respect to its coverage of the debt structure of small and medi-um sized enterprises (SMEs). In addition, the role of trust in accessing finance for such enterprises is under-investigated. This paper presents a mathematical model for optimizing...
Persistent link: https://www.econbiz.de/10010345097
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Zero-debt policy under asymmetric information, flexibility and free cash flow considerations
Miglo, Anton - In: Journal of risk and financial management : JRFM 13 (2020) 12/296, pp. 1-25
and negatively correlated with the tax rate. It also predicts that firms that are farther away from their target capital …
Persistent link: https://www.econbiz.de/10012392204
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Determinants of debt maturity structure : evidence in Vietnam
Nguyen Kim Quoc Trung - In: Cogent business & management 9 (2022) 1, pp. 1-27
This paper examines the determinants of debt maturity structure in listed small and medium enterprises in Vietnam from 2010 to 2019. Agency cost theory, signaling theory, tax-based theory, and matching theory are discussed as platform theories for determining the factors affecting corporate debt...
Persistent link: https://www.econbiz.de/10014431867
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The Dynamics of Capital Structure in U.S. Start-Up Businesses
Cotei, Carmen - 2017
-off theories explain the changes in capital structure of startups from inception to the later stages of development. Consistent … with the predictions of financial growth cycle theory, at the startup stage, entrepreneurs rely on initial insider capital … firms become less opaque, the proportion of business debt and trade credit financing in the total capital injection volume …
Persistent link: https://www.econbiz.de/10012969234
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Investment Opportunities and Corporate Debt Policy : New Economy Firms Versus Old Economy Firms
Chaibi, Hasna - 2013
This paper examines the impact of the New Economy on the relationship between corporate debt policy and firm investment opportunities. One distinctive feature of new economy firms is their high level of investment opportunities. We study whether the impact of investment opportunities on...
Persistent link: https://www.econbiz.de/10013093857
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Impact of selected characteristics of SMEs on the capital structure
Belás, Jaroslav; Gavurova, Beata; Tóth, Peter - In: Journal of business economics and management 19 (2018) 4, pp. 592-608
The optimal capital structure is a key precondition for business, even though defining the optimal capital structure is … entities. Given the specificities of companies in the SME segment, achieving an optimal capital structure is a challenging task … as there is no model of an optimal capital structure that can be universally applied in corporate practice. For this …
Persistent link: https://www.econbiz.de/10012174898
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Leasing by small enterprises
Neuberger, Doris; Räthke-Döppner, Solvig - 2012
. -- leasing ; financial constraints ; small firm finance ; capital structure ; aging population …
Persistent link: https://www.econbiz.de/10009554230
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Did high leverage render small businesses vulnerable to the COVID-19 shock?
Bräuning, Falk; Fillat Comenge, José Luis; Wang, J. … - 2022 - This version: July 2022
below-median capital buffers. Highly levered SMEs that relied on low-capital large banks for funding before the pandemic …
Persistent link: https://www.econbiz.de/10013414903
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External Financing, Technological Changes, and Employees
Kim, E. Han; Li, Bruce Yuan; Lu, Yao; Shi, Xinzheng - 2023
Using exogenous shocks on the ability to issue seasoned equity offerings (SEOs), we show SEOs lead to a higher employee skill composition, i.e., a lower (higher) proportion of low (high) skilled workers. Low-skilled workers decrease more than high-skilled workers increase, leading to lower...
Persistent link: https://www.econbiz.de/10014351369
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Corporate main bank decision
Höwer, Daniel - 2013
Do firms select their main bank relationship according to their risk or risk preferences? Relationship banking is attractive for high risk firms since it improves their access to finance and provides liquidity insurance. Low risk firms instead may not want to bear the additional costs. I employ...
Persistent link: https://www.econbiz.de/10009732772