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Entrepreneur's Wealth, Firm Performance and Cost of Capital : A Bayesian Approach to the Capital Structure of Entrepreneurial Ventures
Moro, Andrea - 2016
We model theoretically the optimal capital structure of entrepreneurial firm relying on an endogenous estimation of the return requested by entrepreneurs that compensates for the risk they incur in case of bankruptcy. We estimate the probability according to the Bayesian approach. We also...
Persistent link: https://www.econbiz.de/10013008393
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Macroeconomic conditions, growth opportunities and the cross-section of credit risk
Arnold, Marc; Wagner, Alexander F.; Westermann, Ramona - 2010
This paper develops a structural equilibrium model with intertemporal macroeconomic risk, incorporating the fact that firms are heterogeneous in their asset composition. Compared to firms that are mainly composed of invested assets, firms with growth options have higher costs of debt because...
Persistent link: https://www.econbiz.de/10003979512
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When Does Leverage Hurt Performance? - A Firm-Level Analysis
Coricelli, Fabrizio - 2012
spirit of the trade-off theory of capital structure. A threshold regression model estimated on a sample of Central and …
Persistent link: https://www.econbiz.de/10013101673
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Firm Performance and Hedging Business Risk
Pandher, Gurupdesh S. - 2019
This research focuses on the ultimate impact of hedging effectiveness on firm performance. Successful risk management … quarterly earnings per share). We empirically estimate the hedging profile of 5,586 non-financial firms (spanning 25 industries … and other firm characteristics – identifies the impact of the firm's hedging profile on firm performance. We find a strong …
Persistent link: https://www.econbiz.de/10012892411
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Dynamic risk management : investment, capital structure, and hedging in the presence of financial frictions
Amaya, Diego; Gauthier, Geneviève; Léautier, … - In: The journal of risk and insurance : the journal of the … 82 (2015) 2, pp. 359-399
Persistent link: https://www.econbiz.de/10011392996
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Dynamic risk management : investment, capital structure, and hedging in the presence of financial frictions
Léautier, Thomas-Olivier; Amaya, Diego; Gauthiery, … - 2012
Persistent link: https://www.econbiz.de/10009669629
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Die Bedeutung der Eigenkapitalausstattung für eine stabile Unternehmensentwicklung
Kaiser, Bernd - 1995
Persistent link: https://www.econbiz.de/10000549398
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Die Bedeutung der Eigenkapitalausstattung für eine stabile Unternehmensentwicklung
Kaiser, Bernd - 1995
Persistent link: https://www.econbiz.de/10000918992
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Risk, Financial Development and Firm Dynamics
Morais, Bernardo - 2015
of young-productive firms increasing the input misallocation within this subgroup. To test the validity of the theory, I …
Persistent link: https://www.econbiz.de/10013014178
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National culture and firm financial performance : a mediating role of firm financing decision
Farooq, Umar; Ahmed, Jaleel; Ashfaq, Khurram; Khan, … - In: Cogent business & management 7 (2020) 1, pp. 1-21
This study unfolds the role of national culture in determining the firm financial performance through channel of corporate financial policy. Sample size consists of 7623 non-financial sector firms from 13 Asian economies and fixed-effect model applies to estimates the regression. As the findings...
Persistent link: https://www.econbiz.de/10012655124