transformation is empirically associated with lower leverage and greater cash holdings, and commonly explained as a precautionary …. Firms can self-finance the retention of human capital by granting deferred equity compensation. Interestingly, retaining … cash and repurchasing shares enhances the value of unvested equity, thereby facilitating retention and reducing equity …

We investigate the causal effect of intangible capital on leverage. To address endogeneity, we exploit patent … instrument for exogenous losses in intangible capital, we find a patent invalidation leads to a 14.1% reduction in leverage …, suggesting that intangible capital causally supports leverage. This local average treatment effect is stronger in firms who use …

leverage. High valuation risk and poor collateralizability of some intangible assets — e.g. goodwill, may discourage debt … between identifiable intangible assets and financial leverage. Overall, identifiable intangible assets support debt financing …

) which factors - country- or firm-specific - are more relevant in explaining leverage in Poland, (2) which theory - trade …We investigated 34 empirical studies aimed at examining the capital structure determinants in firms operating in Poland …-off or pecking order - gains greater support in Poland, and (3) what is the significance of the optimal capital structure …

), with leverage and equity and capital structure. Our empirical results indicate that there is a negative relation between … the intellectual capital (intangible assets) of a company and its leverage based on the Warsaw Stock Exchange main market … and NewConnect alternative market. Moreover, the equity capital is found positively related to the level of intangibles in …

analyzed period, 2000-2016, covers a cycle with significant changes in the Romanian economy. Our results showed that leverage …

advantage, and many scholars have studied its impact on firm performance. However, its effect on the cost of equity has only … 2011. We show that higher levels of reputation are associated with a lower future cost of equity. While reputation … cost of equity within 6 months. We interpret our findings against the backdrop of the previous studies, offering several …