Young, radically innovative, growth oriented, and publicly listed high-tech companies in Silicon Valley together with venture capital financiers gave birth to the concept of the 'Entrepreneurial Business Model' (EBM). This concept has become central to the debate about the innovative capacity of...

We study the leverage of U.S. firms over their life cycles and the connection between firm leverage, firm growth, and aggregate shocks. We construct a new dataset that combines private and public firms’ balance sheets with firm-level data from U.S. Census Bureau’s Longitudinal Business...

This study suggests the preponderance of the pecking order theory over the trade-off theory when there are greater problems of information asymmetry, which is more usual in small-sized firms. The results show that debt level has an inverse relationship with non-debt tax shield and direct...

We test the assumptions of trade-off theory (TOT) and pecking order theory (POT) regarding corporate leverage. The dependent variable being the debt ratio, we apply a linear model upon a balanced panel data-set of 2,370 French SMEs over the period 2002 - 2010. In accordance to TOT, trade credit...

The paper evaluates the impact of capital structure on profitability and market price of large cap and mid cap Indian pharmaceutical companies. The pharmaceutical companies listed in NSE and NSE midcap index were selected for the study. The secondary data was considered from 2013 to 2017. The...