Rajan and Zingales (1995) find that tangibility, growth opportunity, size and performance are the four common determinants to explain capital structure across G-7 countries. In this study, we consider a sample of 590 firms from Argentina, Chile, Mexico, Peru and United States of America, to...

This paper examines the extent to which differences in legal tradition, judicial efficiency, and investor protection affect debt financing and risk taking across developing economies. We find that firms in common law countries have the highest preference for debt financing while corporations in...

The purpose of this study is to investigate the factors that determine capital structure and the speed at which firms adjust their leverage level. In particular, we assess whether the determinants and the speed of adjustment vary according to the level of the country's industrialization. The...

The focal theme of this research paper is to investigate the effect of macroeconomic parameters on the capital structure of Pakistani firms. According to the best of our knowledge this is the first study of its kind in Pakistan and it will open new horizons of research in this area ultimately...

In this paper we propose an integrated model of capital structure to study the partial adjustment process to the optimal long term debt ratio. In our analysis we consider the characteristics of the institutional environment as a factor that influences such adjustment. We use a sample of quoted...

A major shortcoming of capital structure studies on developing economies is that they generally restrict their analyses to large public manufacturing firms. Consequently, we know little about the applicability of various capital structure theories to firms that are private, small, and/or outside...

We examine the capital structure policies of Korean firms using survey data for business group (chaebol) firms and independent firms. Our results are compared with the findings in the earlier studies for developed economies: Graham and Harvey (2001) for the U.S. and Brounen, De Jong, and Koedijk...