This study investigates the relationship between capital structure and financial performance in South African firms, focusing on the potential non-linear, inverse U-shaped effect of leverage on profitability. Drawing on data from 1548 firm-year observations covering 183 publicly listed South...

The article examines the financial management of companies in the context of the COVID-19 pandemic, in particular, the relationship between their capital structure and risk changes during the pandemic. The study aims to determine how companies' total, systematic and idiosyncratic risks changed...

Understanding how firms finance their activities is crucial for fostering economic growth. The financial life cycle is a critical framework for understanding how firms' financing needs and strategies evolve over time. This paper examines the capital structure choices of Italian SMEs focusing on...

Several studies have investigated the determinants of firms' capital structure choices. Though an intercorporate loan is an essential source of corporate debt, there are no studies that examine the determinants of firms' preference to use the intercorporate loan as a source of debt. This study...

This paper proposes an alternative solution to the problem related to the risk that banks incur in the protection of deposits. This solution lies in the use by banks of contingent convertible leasing contracts to face financial distress situations by solidifying their own funds and thus...

We extend Trade-Off Theory (TOT) by assuming that EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), rather than EBIT (Earnings Before Interest and Taxes), follows a Geometric Brownian Motion (GBM), and we thus consider the role of tax depreciation allowances (TDA) in...

This study examines the real effects of earnings stripping rules introduced in the European Union in 2019, which tie interest deductibility to contemporaneous profitability. Exploiting a quasi-natural experiment created by the EU's harmonized implementation under the Anti-Tax Avoidance Directive...

Biotechnology firms operate in a highly innovative and capital-intensive environment, characterized by high levels of R&D, long product development periods, significant regulations, and high levels of uncertainty. These firms rely heavily on intangible assets, such as intellectual capital and...

This study investigates the interdependencies between debt capital and dividend policy as complementary factors influencing firm value among corporations listed on the Korea Composite Stock Price Index (KOSPI). Using Tobin's Q as a firm value metric and employing robust econometric techniques...

This study investigates whether, and to what extent, dividend-paying firms follow pecking order behavior when altering their capital structure. Using a panel of 3173 U.S. firms from 1960 to 2020 (49,424 firm-year observations), we examine four financing activities: equity and debt issuance under...

This study investigates the relationship between peer effects and corporate capital structure with the intervening effect of industry concentration. The methodology involves instrumental variable approach in the regression results from OLS and two-stage least squares (2SLS) with fixed effects....

Today, football is widely regarded as one of the most significant leisure activities in people's lives, given its considerable impact in terms of fostering social cohesion, promoting physical and mental health, generating economic and financial benefits, as well as attracting millions of viewers...

This study empirically investigates the association between board attributes and capital structure decisions of non-financial listed firms in Bangladesh. This study also investigates how this association is shaped and moderated by the level of insider ownership. The current study takes 3096...

Outbound investment refers to the act of investing by enterprises or individuals in regions or countries outside their home country. We explore the impact of CEO financial work experience on the outbound investments of Chinese A-share listed firms. The results demonstrate a significant, positive...

This paper aimed to investigate the effects of government borrowing banks' capital structure using a sample of banks registered in South Africa from 2012 to 2021. Despite the extensive literature on this association, few prominent researchers have studied this phenomenon in the banking sector....

The goal of this research is to investigate whether taxation affects the leverage decisions of banks and if the response of leverage to tax increases depends on profit-shifting opportunities available to individual banks. This topic remains controversial since it is often believed that banking...

This study seeks to investigate the potential effects of the recent pandemic (COVID-19) on capital structure dynamics. The Gulf Cooperation Council (GCC) is a fascinating topic for this study because of its distinct economic characteristics. The analysis draws upon a cross-country dataset...

This study aimed to examine the effects of capital structure on the financial performance of Ethiopian commercial banks. The dependent variable, financial performance, is measured by Return on Assets (ROA), while factors such as loan-to-deposit ratio (LDR), asset-to-total equity ratio (ATER),...

This study aims to explore the impact of various board composition elements (board size, board meeting frequency, multiple directorships, and board independence) on capital structure decisions within emerging markets, specifically focusing on the Sultanate of Oman. The study employs a sample of...

This study seeks to understand the role of intellectual capital and capital structure in maintaining the financial performance and cultural sustainability of village credit unions in Bali, locally known as lembaga perkreditan desa (LPD), which is crucial in the funding of cultural and religious...

This paper examines the moderator role of the corporate governance (CG) mechanism (board size, board independence, board gender diversity, board meetings, board ownership and institutional ownership) in the capital structure (CS) - Firm performace (FP) nexus using country - and firm - level data...