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We use a dynamic framework and panel methodology to investigate the determinants of a firms' time-varying capital …
Persistent link: https://www.econbiz.de/10003666867
dependent variable being the debt ratio, we apply a linear model upon a balanced panel data-set of 2,370 French SMEs over the …
Persistent link: https://www.econbiz.de/10010492381
What is the effect of funding costs on the conditional probability of issuing a corporate bond? We study this question in a novel dataset covering 5610 issuances by US firms over the period from 1990 to 2014. Identification of this effect is complicated because of unobserved, common shocks such...
Persistent link: https://www.econbiz.de/10011581544
This paper studies how variations in tax rates and profitability affect the (unconditional) quantiles of the distribution of the leverage of European foreign owned subsidiaries in the presence of unobserved company characteristics, possibly correlated with their observable dimensions. To achieve...
Persistent link: https://www.econbiz.de/10012514927
This paper studies how variations in tax rates and profitability affect the (unconditional) quantiles of the distribution of the leverage of European foreign owned subsidiaries in the presence of unobserved company characteristics, possibly correlated with their observable dimensions. To achieve...
Persistent link: https://www.econbiz.de/10013226660
We use a dynamic adjustment model and panel methodology to investigate the determinants of a time-varying optimal … well as macroeconomic factors on the speed of adjustment to the target leverage. Our sample comprises a panel of 90 Swiss …
Persistent link: https://www.econbiz.de/10011570398
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/10011448232
In this research, we investigate the dynamic of the capital structure, using panel data techniques. A sample of new … structure has been extended to new high-tech firms with the use of many techniques of panel data. Confirming the pecking order … ratio of non-debt tax shield. Finally, estimating a dynamic panel data model, we find that new high-tech German firms adjust …
Persistent link: https://www.econbiz.de/10014064577
. [2014] analysis for Spain to the Italian case: we use a panel of manufacturing and service companies, thus enlarging the …
Persistent link: https://www.econbiz.de/10011705599
for the period 2000-2014. More specifically the study is focused on two specific questions. First, by using dynamic panel …
Persistent link: https://www.econbiz.de/10011620576