The literature on capital structure dynamics assumes that companies trade-off the advantages of a leverage adjustment and its costs. In general, private companies are assumed to face relatively large adjustment costs, and should have lower financing flexibility. However, we argue that an...

This study examines the cash policies of business group members (i.e., affiliates). Using a panel dataset of private Belgian affiliates and comparable non-affiliated firms, the empirical results show that business group affiliates hold significantly smaller amounts of cash as compared to...

Purpose – The aim of this study is to show the provision of research measures information on the Internet by private non-profit organizations (NPOs) and provide insight on underlying drivers. Design/methodology/approach – This research involves scoring websites of Belgian NPOs on the basis...