This paper investigates corporate cash holding behaviour in Japan, France, Germany, and the UK using data for 3,989 companies over the period 1983-2000. Our findings reveal that a country's legal structure and ownership structure of firms play a significant role in determining cash holdings. We...

This paper investigates cash holding behaviour of firms from France, Germany, Japan, the UK and the US using data for 4,069 companies over the period 1996-2000. Our focus is particularly on the relation between cash holdings and leverage. We argue that the impact of leverage on cash balances of...

This study provides new insights on the relationship between corporate debt maturity and agency costs by investigating empirically the impact of managerial ownership and the divergence between control and cash-flow rights on debt maturity. A significant negative effect of managerial ownership on...

In this article, based on the past/current local housing finance initiatives, market conditions, national housing policy and lessons from global financial crisis, we examine whether market based housing finance system may provide efficient policy instrument to solve housing (finance) question of...

Turkish Abstract: Çalışmamızda, makroekonomik değişkenlerin ülkemizdeki konut kredisi hacmi üzerindeki dinamik etkileri (2005:01)-(2011:09) dönemi için analiz edilmektedir. Değişkenler arasındaki uzun/kısa dönemli ilişkilerin araştırılmasında, eşbütünleşme testi/vektör...

Turkish Abstract: İpotekli konut finansmanı sisteminin (İKFS) konut sahipliğini uygun finansman koşullarında desteklemesi beklenmekle birlikte, ülkemizde İKFS işlevini yerine getirememektedir. Literatür taraması ve karşılaştırmalı veri analizi çerçevesinde yapılan...

The corporate finance literature argues that overconfident managers tend to hold less cash, and this leads to a significant deviation from optimal cash levels. We analyse the impact of executive overconfidence on the corporate cash holdings of listed Vietnamese firms. To quantify managerial...

This paper offers a comparative analysis of the determinants of the corporate debt ownership structure in a bank-oriented economy (Germany) and market-oriented economy (the UK). Using GMM estimators, we control for the problems of endogeneity, heteroscedasticity, normality, simultaneity and...

This study examines the determinants of corporate debt maturity structure decisions of French, German and UK firms using panel data. These countries are characterised by different financial systems and traditions that have implications on how firms decide their debt maturity structure. We apply...

The paper investigates how firms operating in capital market oriented economies (the United Kingdom and the United States) and bank oriented economies (France, Germany and Japan) determine their capital structure. Using panel data and a two-step system-GMM procedure, the paper finds that the...