firms adjust toward target leverage very quickly and trade-off theory explains the firms’ capital structure choice better …

methodology we try to identify the financial leverage determinants of Macedonian firms. Second, we analyze changes in firms …' leverage decisions by comparing the post-crisis outcome with the pre-crisis determinants. Our results show that the size of the … companies and growth opportunities are positively related to leverage, while profitability, tangibility and non-debt tax shield …

elements of leverage, book value of total debt ratio (BVTDR) and long term debt ratio (BVLTDR), were used to check for any … government, the study also concludes that GLCs are rely less on leverage to support their investment activities. …

leverage and depict differences in industry and country characteristics. Using a short panel data set with a large cross …-section, we are able to show that firm size, industry leverage, industry growth and tax shield positively affect leverage ratios …

elements of leverage, book value of total debt ratio (BVTDR) and long term debt ratio (BVLTDR), were used to check for any … government, the study also concludes that GLCs are rely less on leverage to support their investment activities. …

emerging market economy, Turkey. We study both statistical and economic significance of four types of leverage factors: Firm … inflation is an important determinant of leverage and the most economically significant macroeconomic factor. Moreover, we … provide evidence that firms adjust their leverage towards the industry median, that firms match the maturity of their assets …

maximization problem. This solution maps asset volatility and loss given default to optimal leverage. By applying nonlinear … simultaneously, the speed of adjustment towards this leverage target is estimated. Linear specifications of the leverage target …