I document that the average productivity of firms tends to increase, and its variance to decrease, as they age. These two facts combined suggest that managers learn to reduce their mistakes as they operate. I develop a quantitative framework mimicking these dynamics and find that young firms...

This study investigates the effect and nature of relationship capital structure has on financial performance of firms in Nigerian pension industry which is the most recent development in Nigeria's financial sector. The population of the study are filtered to obtain 16 PFAs licensed by the...

The purpose of this study is to analyse the influence of corporate governance on the financial structure of listed firms. The analysis is founded on the capital structure and agency theories. Corporate governance literature indicates the existence of nonlinear relationships, and hence this...

We take a closer look at the links between corporate capital structure and productivity, profitability and access to finance based on Danish industry-level and firm-level accounting data from the period 2000-2011. Our results indicate that the capital structure has no significant impact on the...