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A REVIEW OF THE CAPITAL STRUCTURE THEORIES

Luigi, Popescu; Sorin, Visinescu - In: Annals of Faculty of Economics 3 (2009) 1, pp. 315-320

In this paper the authors survey capital structure theories, from the start-up point, which is considered Modigliani and Miller’s capital structure irrelevance theorem, to recent theories, such as the pecking order and the market timing theory. For each t

Persistent link: https://www.econbiz.de/10008511864

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/10010492381

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

Persistent link: https://www.econbiz.de/10011559144

The impact of corporate governance quality on capital structure choices : does national governance quality matter?

Nguyen, An; Tuan Nguyen; Phuong Hoang - In: Cogent economics & finance 10 (2022) 1, pp. 1-26

reducing the need to use leverage as a tool to discipline managers. The results are robust to different proxies for national … governance quality, corporate governance quality, and firm leverage. …

Persistent link: https://www.econbiz.de/10013454665

Capital structure – Romanian and Eastern-Europe companies

Liviu-Adrian - International Institute of Social and Economic Sciences - 2015

This paper analyses company’s capital structure using a sample of listed companies on a ten year period. It mainly tackles one of the most debated issues in corporate finance, the relationship between profitability and debt level of a company. Shareholder funds are considered at book value,...

Persistent link: https://www.econbiz.de/10011276199

Capital Structure Dynamics in UK and Continental Europe

Wanzenried, Gabrielle - Department Volkswirtschaftlehre, Universität Bern - 2002

This paper analyzes capital structure determinants of UK and continental European firms. Besides considering firmspecific characteristics, it investigates the impact of different corporate governance related institution- and marketspecific aspects on the capital structure choice. The dynamic...

Persistent link: https://www.econbiz.de/10005515674

The interaction of institutional quality and human capital in shaping the dynamics of capital structure in Viet Nam

Santarelli, Enrico; Hien Thu Tran - 2018

and assets. On the other hand, those with access to formal sources take advantage of leverage tools from using formal …

Persistent link: https://www.econbiz.de/10011874005

A New Test of Capital Structure

Mayer, Colin; Sussman, Oren - C.E.P.R. Discussion Papers - 2004

This Paper reports a new test of capital structure theories. It uses a filtering technique to identify large investment spikes. We find that the spikes are predominantly financed with debt by large firms and by new equity by small loss-making firms. In the process, firms move significantly away...

Persistent link: https://www.econbiz.de/10005067393

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

The interaction of institutional quality and human capital in shaping the dynamics of capital structure in Viet Nam

Santarelli, Enrico - 2018

and assets. On the other hand, those with access to formal sources take advantage of leverage tools from using formal …

Persistent link: https://www.econbiz.de/10011943873

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