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Impact of Capital Structure on Firm Performance : Evidence from Manufacturing Sector SMEs in UK

Yapa Abeywardhana, Dilrukshi - 2016

The purpose of this study is to investigate empirically the impact of capital structure on firm performance. This study examined the impact of capital structure on firm performance of manufacturing sector SMEs in UK for the period of 1998-2008. The authors hypothesize that there is a negative...

Persistent link: https://www.econbiz.de/10012985985

Got Rejected? Real Effects of Not Getting a Loan

Berg, Tobias - 2018

Using a lender cutoff rule that generates plausibly exogenous variation in credit supply, I investigate a new channel through which funding shocks are transmitted to the real economy. Based on a sample of more than 15,000 loan applications from small- and medium-sized enterprises, I find that...

Persistent link: https://www.econbiz.de/10012922731

Capital structure determinants of German small and medium sized firms

Jamin, Goesta; Lenz, Hansrudi - 2022

Based on a unique dataset taken from the internal credit rating database of a large German bank we investigate capital structure determinants of German small and medium sized firms for a period of 2000 to 2014. In this economically favorable period for German small and medium sized firms with...

Persistent link: https://www.econbiz.de/10013291019

Changes in Capital Structure of Czech SMEs : A Dynamic Panel Data Approach

Jindrichovska, Irena - 2014

In this paper, we explore two of the most relevant theories that explain financial policy in small and medium enterprises (SMEs): pecking order theory and trade-off theory. The theoretical section provides an overview of contemporary theories of capital structure. According to the pecking order...

Persistent link: https://www.econbiz.de/10013061329

Innovation and investment funding in the post-crisis period : have financing patterns and financial constraints of German firms changed?

Schäfer, Dorothea; Stephan, Andreas - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 1, pp. 129-142

. Specifically, we investigate if and how the funding patterns and financial constraints of German small and medium enterprises (SME …

Persistent link: https://www.econbiz.de/10011916059

Firming up the capital base of the Austrian business sector : consolidating Austria's business sector strengths and its social role in the face of new challenges

Dlugosch, Dennis; Gönenç, Rauf; Kim, Eun Jung; … - 2020

While small- and medium sized firms in Austria are generally more productive, export more, and engage more in higher technology activities than in comparable countries, they need to adapt better to the knowledge economy to maintain their relative performance levels. The capital structure of...

Persistent link: https://www.econbiz.de/10012203255

HOW SME UNIQUENESS AFFECTS CAPITAL STRUCTURE: EVIDENCE FROM A 1994-1998 SPANISH DATA PANEL

Mira, Francisco Sogorb- - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2002

The principal aim of this paper is to test how firm characteristics affect Small and Medium Enterprise (SME) capital …. Our results suggest that non?debt tax shields and profitability are both negatively related to SME leverage, while size …, growth options and asset structure influence positively on SME capital structure; they also confirm a maturity matching …

Persistent link: https://www.econbiz.de/10005212514

ARE REGIONAL INSTITUTIONAL FACTORS DETERMINANTS OF THE CAPITAL STRUCTURE OF SMES?

Palacin-Sanchez, MariaJosé; Pietro, Filippo di - European Regional Science Association - 2013

This paper analyses the role that institutional factors play in explaining differences in the capital structure of small and medium-sized enterprises (SMEs) across regions belonging to a single country. Specifically, it studies the effect of the development of the financial sector and of the...

Persistent link: https://www.econbiz.de/10010755462

Marginal Tax Rates and Investment Behavior of Small and Large Firms

Eskandari, Ruhollah - 2020

Do changes in the marginal tax rate of corporations affect their investment? Using a unique dataset on balance sheet and income of firms from 1956-2008 and a new measure of exogenous changes in corporations marginal tax rate, this paper shows that the investment response of large firms to a...

Persistent link: https://www.econbiz.de/10012849155

Got Rejected? Real Effects of Not Getting a Loan

Berg, Tobias - 2016

Using a lender cut-off rule that generates plausibly exogenous variation in credit supply, I analyze real effects of loan rejections in a sample of small and medium-sized enterprises. I find that loan rejections reduce asset growth, investments, and employment, and these effects are concentrated...

Persistent link: https://www.econbiz.de/10012983084