While differences in capital structure between large and small firms have been extensively researched, relatively less …. In this paper, we explore the determinants of SME capital structure across the age distribution of firms using firm … financial structure with more stock market financing reducing firm leverage disproportionately for young firms while foreign …

structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002 …We use a dynamic framework and panel methodology to investigate the determinants of a firms' time-varying capital …. If capital structure adjustment is costly, firms may deviate temporarily from their target debt ratios. Therefore, we …