This paper analyzes the effect of a firm's life cycle stages on capital structure in tech versus non-tech firms using a wide sample of public companies from Europe. An innovative approach based on operating, investing, and financing cash flows allows us to analyze differences in leverage and...

Firms are heterogeneous in size, productivity, ownership concentration, governance, financial structure and other dimensions. This paper introduces a stylized theoretical framework to account for such differences and to explain the heterogeneous tax sensitivity of firm-level investments across...

This study aims to investigate the effect of capital structure and ownership structure on firms' performance. In addition, the study also examines the existence of reverse causality hypothesis using the firm's level data from three industries of three ASEAN countries, i.e. Indonesia, Malaysia...

The study investigates the factors that influence dividend payout policy in public Pakistani manu- facturing companies throughout the timeframe 2010-20. Pooled OLS technique was used for regression purposes, as the majority of companies do not pay a dividend at all or do not do so regularly so...

This study aims to investigate the effect of capital structure and ownership structure on firm performance. In addition, this study also examines the existence of reverse causality using firm-level data from three industries of three ASEAN countries, i.e., Indonesia, Malaysia and Singapore. It...

This research study has attempted to indirectly test the proposition that the probability of corporate failure is mainly related to the unsystematic component of the total risk. The authors conjecture confirms that managing the total cash-flow risk of the firm significantly affects both the...

This study estimates the effect of COVID-19 on listed small and medium enterprises' capital structures in Vietnam from 2010 to 2020 by a dynamic panel model with 825 observations. Conducting the generalized method of moments, the findings show that COVID-19 is a significant factor affecting...

This paper explores the financial characteristics of successful Canadian small- and medium-sized enterprises (SMEs). It asks whether industry membership and early growth history play a role in shaping these financial characteristics. Industry comparisons are based on production activity and...

This paper analyzes the relationship between capital structure, corporate taxation and firm age. We adapt a standard model of optimal capital structure choice under corporate taxation, focusing on the financing and investment decisions a young firm is typically faced with. Our model allows to...