This paper contributes to the academic debate on the pecking order theory and SMEs equity financing, in this equity … is to investigate whether the relevance of equity financing for European SMEs is driven by the country … relevance of internal funds or external equity, with respect to SMEs performance and characteristics. For that purposes the SAFE …

This article investigates the capital structure dynamics of European SMEs by assessing the impact of firm … setup, we perform a dynamic panel data analysis, along with several model specifications and robustness tests on listed SMEs … leverage of the listed SMEs in the periphery and the new member states countries, leaving the core countries practically …