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Market power versus capital structure determinants: Do they impact leverage?
Jahanzeb, Agha; Bajuri, Norkhairul Hafiz; Ghori, Aisha - In: Cogent Economics & Finance 3 (2015) 1, pp. 2-9
The purpose of this study is to investigate the association between market power and capital structure. This study will further provide a logical explanation towards the factors affecting capital structure. This study analysed 176 non-financial Pakistani companies listed on Karachi Stock...
Persistent link: https://www.econbiz.de/10011559153
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A revisit of pecking order theory versus trade-off theory: Evidence from Pakistan
Qureshi, Muhammad Azeem; Sheikh, Nadeem Ahmed; Khan, … - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 9 (2015) 2, pp. 344-356
(POT) or trade-off theory (TOT); better explains the corporate leverage behaviour in Pakistan. For this purpose, we use … listed on Karachi Stock Exchange Pakistan during 1972-2010 Our results indicate that leverage has two pervasive and … significant relationships. First, leverage is negatively related to current and past profitability. Second, leverage is positively …
Persistent link: https://www.econbiz.de/10011938459
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Dynamic Approach of Capital Structure of European Shipping Companies
Arvanitis, Stavros H.; Tzigkounaki, Irakleia S.; … - In: International Journal of Economic Sciences and Applied … 5 (2012) 3, pp. 33-63
than borrowing) against leverage. Moreover, we observe a negative relationship between size or profitability and debt. Our …
Persistent link: https://www.econbiz.de/10011310238
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Trade-off-theory vs. pecking order theory and the determinants of corporate leverage: Evidence from a panel data analysis upon French SMEs (2002-2010)
Adair, Philippe; Adaskou, Mohamed - In: Cogent Economics & Finance 3 (2015) 1, pp. 1-11
We test the assumptions of trade-off theory (TOT) and pecking order theory (POT) regarding corporate leverage. The … the firm and access to credit relies on guarantees. The relationship between corporate leverage and the profitability of … SMEs as well as growth opportunities support POT. However, the relationship between corporate leverage and the age of SMEs …
Persistent link: https://www.econbiz.de/10011559144
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Internal and external determinants of capital structure in large Korean firms
Tulcanaza Prieto, Ana Belen; Lee, Young Hwan - In: Global Business & Finance Review (GBFR) 24 (2019) 3, pp. 79-96
Persistent link: https://www.econbiz.de/10012286687
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Testing capital structure theories using error correction models: Evidence from China, India, and South Africa
Kannadhasan, M.; Thakur, Bhanu Pratap Singh; Gupta, C. P.; … - In: Cogent Economics & Finance 6 (2018) 1, pp. 1-19
firms adjust toward target leverage very quickly and trade-off theory explains the firms' capital structure choice better …
Persistent link: https://www.econbiz.de/10011988834
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Capital structure, stock exchanges in Chile: 2007 to 2016
Henrique, Marcelo Rabelo; Silva, Sandro Braz; Saporito, … - In: Journal of Economics, Finance and Administrative Science 26 (2021) 52, pp. 317-332
Purpose - The article consists of analyzing the behavior of the determinants of the capital structure of Chilean companies between 2007 and 2016. The objective of this study was achieved through a typology of research based on bibliographic, documentary, exploratory and explanatory, considering...
Persistent link: https://www.econbiz.de/10013192209
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Influencing factors that determine capital structure decisions: A review from the past to present
Boateng, Prince Yeboah; Ahamed, Baba Issah; Soku, … - In: Cogent Business & Management 9 (2022) 1, pp. 1-19
This review study seeks to assess the state of determinants of corporate capital structure over the last 7 years to aid discover gaps as opportunity for further research. The review used a sample of 68 published journal articles in divers high-ranked journals spanning the years 2014-2020. The...
Persistent link: https://www.econbiz.de/10014505541
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Analysing the macroeconomic drivers of stock market development in the Philippines
Ho, Sin-Yu; Odhiambo, N. M. - In: Cogent Economics & Finance 6 (2018) 1, pp. 1-18
This paper analyses the macroeconomic drivers of stock market development in the Philippines during the period 2001Q4-2016Q4. In particular, the paper examines the impact of banking sector development, inflation rate, exchange rate, economic growth, trade openness and stock market liquidity on...
Persistent link: https://www.econbiz.de/10011988842
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Oil price, oil price implied volatility (OVX) and illiquidity premiums in the US: (a)symmetry and the impact of macroeconomic factors
Essa, Mohammad Sharik; Giouvris, Evangelos - In: Journal of Risk and Financial Management 13 (2020) 4, pp. 1-40
We examine the impact of oil price and oil price volatility on US illiquidity premiums (return on illiquid-minus-liquid stocks), using the US Oil Fund options implied volatility OVX index. We use daily data from 2007 to 2018, taking into account the structural break in June 2009 and controlling...
Persistent link: https://www.econbiz.de/10012611299