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On the capital structure of foreign subsidiaries : evidence from a panel data quantile regression model
Miniaci, Raffaele; Panteghini, Paolo - 2021
estimation of unconditional quantile partial effects in a model with correlated random effects. The results show that the impact …
Persistent link: https://www.econbiz.de/10012514927
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On the Capital Structure of Foreign Subsidiaries : Evidence from a Panel Data Quantile Regression Model
Miniaci, Raffaele; Panteghini, Paolo - 2021
estimation of unconditional quantile partial effects in a model with correlated random effects. The results show that the impact …
Persistent link: https://www.econbiz.de/10013226660
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A discrete choice model for large heterogeneous panels with interactive fixed effects with an application to the determinants of corporate bond issuance
Boneva, Lena; Linton, Oliver - 2017
What is the effect of funding costs on the conditional probability of issuing a corporate bond? We study this question in a novel dataset covering 5610 issuances by US firms over the period from 1990 to 2014. Identification of this effect is complicated because of unobserved, common shocks such...
Persistent link: https://www.econbiz.de/10011581544
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Dynamic corporate capital structure behavior : empirical assessment in the light of heterogeneity and non stationarity
Bontempi, Maria Elena; Bottazzi, Laura; Golinelli, Roberto - 2015
Understanding the dynamics of the leverage ratio is at the heart of the empirical research about firms' capital structure, as they can be very different under alternative theoretical models. The pillars of almost all empirical applications are the maintained assumptions of poolability and...
Persistent link: https://www.econbiz.de/10011715923
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Dynamic Corporate Capital Structure Behavior : Empirical Assessment in the Light of Heterogeneity and Non Stationarity
Bontempi, Maria Elena - 2015
Understanding the dynamics of the leverage ratio is at the heart of the empirical research about firms' capital structure, as they can be very different under alternative theoretical models. The pillars of almost all empirical applications are the maintained assumptions of poolability and...
Persistent link: https://www.econbiz.de/10013030052
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Determinants of Capital Structure : An Empirical Study of Selected Indian Manufacturing Companies
Sinha, Sandip - 2020
ascertain the applicability of Trade-off Theory, Agency Cost theory and Pecking Order Theory through the analysis of the …-Off Theory (TOT), Agency Cost Theory (ACT) and Pecking Order Theory (POT) for an average company with mean (average) level of … ( BSE ), with a view to assess indirectly the applicability of Trade-Offff Theory (TOT) , Agency Cost Theory (ACT) and …
Persistent link: https://www.econbiz.de/10012840876
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Employment in family firms: less but safe? : analyzing labor demand of German family firms with a treatment model for panel data
Kölling, Arnd - 2017
family firms as a treatment indicator. Moreover, a propensity score estimation is introduced to the model to control for …
Persistent link: https://www.econbiz.de/10011701329
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International investment positions and exchange rate dynamics
Binder, Michael; Offermanns, Christian J. - 2014
We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
Persistent link: https://www.econbiz.de/10010414236
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An alternative test of the trade-off theory of capital structure
Canarella, Giorgio; Nourayi, Mahmoud; Sullivan, Michael J. - In: Contemporary economics 8 (2014) 4, pp. 365-386
-generation panel unit root tests provide consistent evidence that debt ratios are mean reverting, which supports the trade-off theory …
Persistent link: https://www.econbiz.de/10010520900
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The (self-)funding of intangibles
Döttling, Robin; Ladika, Tomislav; Perotti, Enrico C. - 2016
In response to technological change, U.S. corporations have been investing more in intangible capital. This transformation is empirically associated with lower leverage and greater cash holdings, and commonly explained as a precautionary response to reduced debt capacity. We model how firms'...
Persistent link: https://www.econbiz.de/10011556238