In this research, we investigate the dynamic of the capital structure, using panel data techniques. A sample of new high-tech German firms over the period 1998-2002 is used to specifically establish the determinants of a time-varying optimal capital structure. We consider the dynamic models,...

Traditional target structure theories predict that all financing decisions move firms towards target capital structures. On the other hand, transitory debt hypothesis predicts that firms deliberately but temporarily deviate from target capital structures to fund a particular corporate action and...

Rajan and Zingales (1995) find that tangibility, growth opportunity, size and performance are the four common determinants to explain capital structure across G-7 countries. In this study, we consider a sample of 590 firms from Argentina, Chile, Mexico, Peru and United States of America, to...

The recent evolutions of corporate capital structure in Japan and its determinants were analyzed in this research, with special emphasis on comparison between firms in major stock exchanges. The specific questions examined in this study are: Do differences in debt regression coefficients exist...

This paper analyzes the relationship between some characteristics of the corporate board and the firm's capital structure in Nepalese listed firms using panel data models. The findings provide some preliminary empirical evidence and seem to suggest that stronger corporate governance practices...

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...

This paper evaluates the relative importance of country and firm-specific determinants of capital structure using a multilevel modelling approach. Annual data for 18,201 public and non-financial firms from 66 countries are analysed for the period 2000–2016. Variance decomposition analysis is...

We develop a dynamic panel threshold model of capital structure to test the dynamic trade-off theory, allowing for asymmetries in firms' adjustments toward target leverage. Our novel estimation approach is able to consistently estimate heterogeneous speeds of adjustment in different regimes as...

Purpose This study empirically investigates the relationship between goodwill assets and capital structure (i.e. debt ratio) of firms and the moderating effect of financial market development on the relationship between goodwill assets and capital structure. Design/methodology/approach This...

The purpose of this paper is to determine the relation between a company's indebtedness and its value. We used a sample of 20 North Macedonian companies, listed on the Macedonian Stock Exchange (MSE) mandatory listing, and the data for 6 years' time span. In the paper, we use Panel Data models...