This article aims to analyse the evolution over the recent years of LBO funds, in terms of valuation (asset prices) and the role that leverage and corporate governance played in its evolution.Leverage is one of the positive factors that is supposed to contribute to the success of private equity,...

The issue of capital structure of companies is one of the most debated problems of financial management. According to economic theory, capital structure determines the stock market value of firms and therefore their viability, while one of the most negative result of the crash of 2008 and the...

The aim of this paper is to empirically investigate the determinants of creditor concentration in the use of bank loans by firms in a European cross-country framework. We analyze the influence of loan and borrower characteristics but also banking market structure and legal enforcement variables...

We study two court rulings that materially affected dividend taxation in several European countries. The tax changes were not related to economic conditions or part of broader policy initiatives, providing a useful experiment for identifying the effect of taxation on capital structure, payout,...

The global financial crisis has shown that money affects the real economy. This study examines the influence of the price and stock of money in the economy on capital structure throughout the business cycle during the last financial crisis, with particular focus on the roles of long- and...

There are no stylized facts about the capital structure of small firms. Therefore, in this paper I use firm data from 10 Western European countries to contrast the sources of leverage across small and large firms. Specifically, I jointly evaluate the explanatory power of firm-specific, country...