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Institutional determinants of capital structure adjustment speeds
Öztekin, Özde; Flannery, Mark J. - In: Journal of Financial Economics 103 (2012) 1, pp. 88-112
the hypothesis that better institutions lower the transaction costs associated with adjusting a firm's leverage. Such …
Persistent link: https://www.econbiz.de/10011039257
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Financial leverage and debt maturity targeting: International evidence
Gungoraydinoglu, Ali; Öztekin, Özde - In: Journal of Risk and Financial Management 14 (2021) 9, pp. 1-36
We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences … institutions target lower leverage and higher long-term debt, whereas better-functioning financial systems result in lower target … has led to more prevalent target deviations. Better institutions significantly decrease the likelihood of target …
Persistent link: https://www.econbiz.de/10013201121
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Financial leverage and debt maturity targeting : international evidence
Gungoraydinoglu, Ali; Öztekin, Özde - In: Journal of risk and financial management : JRFM 14 (2021) 9, pp. 1-36
We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences … institutions target lower leverage and higher long-term debt, whereas better-functioning financial systems result in lower target … has led to more prevalent target deviations. Better institutions significantly decrease the likelihood of target …
Persistent link: https://www.econbiz.de/10012628492
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Debt Equity Choice in Europe
Gaud, Philippe; HOesli, Martin; Bender, André - Swiss Finance Institute - 2005
Using a sample of over 5,000 European firms, we document the driving factors of capital structure policies in Europe. Controlling for dynamic patterns and national environments, we show how these policies cannot be reduced to a simple trade-off or pecking order model. Both corporate governance...
Persistent link: https://www.econbiz.de/10005771827
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Institutional failure or market failure?
Mathur, Ike; Marcelin, Isaac - In: Journal of Banking & Finance 52 (2015) C, pp. 266-280
profits using a panel of 498 banks from 46 countries. Results show that better institutions and stronger property rights … institutions and enhanced property rights protection lead to greater flow of credit allowing firms and investors to undertake more …, credit markets fail when economic institutions fail or when governments intervene into these markets in ways that impede the …
Persistent link: https://www.econbiz.de/10011209854
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Institutional determinants of capital structure adjustment speeds
Öztekin, Özde; Flannery, Mark J. - In: Journal of financial economics 103 (2012) 1, pp. 88-112
Persistent link: https://www.econbiz.de/10009492478
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Determinants of the level of indebtedness for Brazilian firms: A quantile regression approach
Oliveira, Guilherme Resende; Tabak, Benjamin Miranda; … - In: EconomiA 14 (2013) 3-4, pp. 123-138
We investigate the determinants of the capital structure of Brazilian companies between 2000 and 2009. We use a quantile regression model and compare its results with the ones provided by conventional models (least squares and fixed effects). We show that the effects of the capital structure...
Persistent link: https://www.econbiz.de/10011858392
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Determinants of the level of indebtedness for Brazilian firms : a quantile regression approach
Oliveira, Guilherme Resende; Tabak, Benjamin Miranda; … - In: Economia : revista da ANPEC 14 (2013) 3/4, pp. 123-138
We investigate the determinants of the capital structure of Brazilian companies between 2000 and 2009. We use a quantile regression model and compare its results with the ones provided by conventional models (least squares and fixed effects). We show that the effects of the capital structure...
Persistent link: https://www.econbiz.de/10011864841
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Determinants of the level of indebtedness for Brazilian firms: A quantile regression approach
Oliveira, Guilherme Resende; Tabak, Benjamin Miranda - In: Economia 14 (2013) 3–4, pp. 123-138
We investigate the determinants of the capital structure of Brazilian companies between 2000 and 2009. We use a quantile regression model and compare its results with the ones provided by conventional models (least squares and fixed effects). We show that the effects of the capital structure...
Persistent link: https://www.econbiz.de/10010885090
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Financial Constraints in China: Firm-Level Evidence
Poncet, Sandra; Steingress, Walter; Vandenbussche, Hylke - C.E.P.R. Discussion Papers - 2009
This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a 'political-pecking order' in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China are not;...
Persistent link: https://www.econbiz.de/10005661590