Search Results - subject:"zero leverage"

Local banking development and SME conservative financing policy : does bank branch density matter?

Gonçalves, Paulo Miguel Marques Gama; Murta, Fátima Sol; … - In: Small business economics : an international journal 63 (2024) 4, pp. 1747-1765

Persistent link: https://www.econbiz.de/10015179521

CEO overcaution and capital structure choices

Rocciolo, Francesco; Gheno, Andrea; Brooks, Chris - In: The financial review : the official publication of the … 59 (2024) 3, pp. 719-743

Persistent link: https://www.econbiz.de/10015166527

The zero-leverage phenomenon in European listed firms : a financing decision or an imposition of the financial market?

Morais, Flávio; Serrasqueiro, Zélia; Ramalho, Joaquim … - In: Business research quarterly : BRQ 27 (2024) 3, pp. 301-323

This article provides empirical evidence on the zero-leverage phenomenon for a sample of European listed firms for the … period 1995-2016. It is shown that there are two types of firms with zero leverage: the financially constrained firms that … unconstrained firms that maintain zero leverage as a consequence of a financing decision, which supports the financial flexibility …

Persistent link: https://www.econbiz.de/10015051431

Is the zero-leverage policy a persistent phenomenon? : evidence from Portuguese SMEs

Sardo, Filipe; Serrasqueiro, Zélia; Rocha Armada, Manuel da - In: Research in international business and finance 69 (2024), pp. 1-11

Persistent link: https://www.econbiz.de/10015052816

Internationalization and zero leverage

Chatzivgeri, Eleni; Dontis-Charitos, Panagiotis; … - In: The European journal of finance 30 (2024) 11, pp. 1185-1211

Persistent link: https://www.econbiz.de/10014636442

How does society satisfaction affect the capital structure of firms? : a two-part fractional regression approach

Marques, Luís Miguel; Morais, Flávio; Serrasqueiro, Zélia - In: Quantitative finance and economics 8 (2024) 2, pp. 210-234

Persistent link: https://www.econbiz.de/10015126898

A study on earnings management of zero-leverage firms from the perspective of financial constraints

Lee, Hyun-Ah - In: Global Business & Finance Review (GBFR) 27 (2022) 1, pp. 28-49

Purpose: This study verifies the debt covenant hypothesis by exploring the earnings management of zero-leverage firms … that are not constrained by debt covenants. Furthermore, this study investigates whether the earnings management of zero-leverage … firms varies depending on financial constraints, whether a consecutive zero-leverage period is associated with the level of …

Persistent link: https://www.econbiz.de/10015098881

Zero-leverage puzzle revisited : evidence from acquisition behaviors

Bae, Chang Suk; Chung, Hae Jin - In: International Journal of Financial Studies : open … 10 (2022) 3, pp. 1-27

The prevalence of zero-leverage firms is a puzzle in corporate finance. We analyze the acquisition behavior of zero-leverage … firms and offer a new venue to the studies on zero-leverage puzzle and the interdependence of capital structures and … investment decisions. The prior literature suggests three explanations regarding the zero-leverage puzzle: limited access to the …

Persistent link: https://www.econbiz.de/10013368380

A study on earnings management of zero-leverage firms from the perspective of financial constraints

Lee, Hyun-Ah - In: Global business and finance review 27 (2022) 1, pp. 28-49

Persistent link: https://www.econbiz.de/10013197408

Functional form issues in the regression analysis of financial leverage ratios

Ramalho, Joaquim; Silva, Jacinto Vidigal da - Centro de Estudos e Formação Avançada em Gestão e … - 2011

Linear models are typically used in the regression analysis of capital structure choices. However, given the proportional and bounded nature of leverage ratios, models such as the tobit, the fractional regression model and its two-part variant are a better alternative. In this paper, we discuss...

Persistent link: https://www.econbiz.de/10009646047