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dependent variable being the debt ratio, we apply a linear model upon a balanced panel data-set of 2,370 French SMEs over the … the firm and access to credit relies on guarantees. The relationship between corporate leverage and the profitability of …
Persistent link: https://www.econbiz.de/10010492381
, significantly affect firm growth. For this purpose, we use an unbalanced panel of about 1,000,000 observations for around 155 …,000 non-financial corporations in five euro area countries. In addition to the balance sheet information in this panel, we … results for leverage are less clear-cut. -- Financing constraints ; firm growth, panel data …
Persistent link: https://www.econbiz.de/10003826608
debt structure, and the effect of this on corporate profitability. The assumption on which the study was based is that, if … financial results of 35 manufacturing companies listed on the Nigerian stock exchange for a two-year period (2011 - 2012). Panel … profitability but no significant relationship between firm's working capital composition and profitability. The results, however …
Persistent link: https://www.econbiz.de/10010224764
We take a closer look at the links between corporate capital structure and productivity, profitability and access to … capital structure has no significant impact on the firms' profitability or productivity. However, the capital structure is …
Persistent link: https://www.econbiz.de/10010439503
debt structure, and the effect of this on corporate profitability. The assumption on which the study was based is that, if … financial results of 35 manufacturing companies listed on the Nigerian stock exchange for a two-year period (2011-2012). Panel … profitability but no significant relationship between firm's working capital composition and profitability. The results, however …
Persistent link: https://www.econbiz.de/10013071720
This paper offers an alternative theory of corporate finance, to replace the invalid MM theorem. It derives the optimal amount of fund, which can be equity or debt. It introduces a new concept called marginal yield. It corrects the meaning of borrowing. It reproduces the MM theorem, to show its...
Persistent link: https://www.econbiz.de/10012989765
correlation between leverage and profitability. When rebalancing costs are added to this theory, it predicts a positive leverage-profitability … the theory predicts it should be positive. Our results thus resurrect the leverage-profitability puzzle …
Persistent link: https://www.econbiz.de/10011847874
This paper studies how variations in tax rates and profitability affect the (unconditional) quantiles of the … of taxes and profitability on subsidiaries' financial choices varies across different quantiles of the (skewed …, profitability (proxied by ROA) has either a negative or null impact, depending on the leverage ratio and the tax rate used (namely …
Persistent link: https://www.econbiz.de/10012514927
Persistent link: https://www.econbiz.de/10010337163
Persistent link: https://www.econbiz.de/10011717732