São Tomé and Príncipe (STP) is one of the world's smallest organic cocoa exporting countries, whose product has a positive socio-cultural and economic impact. Small producers who ensure it, are associated into two cooperatives that experience several difficulties and dilemmas including...

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 face obstacles in obtaining external finance, as...