Some giant US conglomerates are now undergoing corporate spin-offs or are considering such spin-offs in the near future. Corporate spin-offs offer a unique opportunity to assess corporate capital structure decisions. The leverage ratio of the spin-off firms represents their initial capital...

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 research examines how capital structure and liquidity impact the financial performance of South African firms from 2012 to 2023. Using panel data methodologies and the Generalised Method of Moments (GMM) estimation, the study addresses potential endogeneity issues and inaccuracies in the...

Our analysis focuses on understanding the financing behaviour of Italian firms during a period marked by a significant economic crisis and the resulting deleveraging process. The objective is to identify the determinants of Italian firms' leverage decisions during this deleveraging phase and to...

This study examines firms' cash holdings (CH) in the MENA region. For the period 2000-2020, the fixed effect method and GMM are applied to a sample of 1053 non-financial firms. The results show that firms that are large in size, and higher in cash flows, R&D, and dividend payments have higher...