The main objective of this paper is to investigate whether differences in institutional characteristics result in different capital structure determination among countries. First, we analyze the institutional setting in Greece compared with that of other countries. Second, we provide survey...

Estimates of terminal value of long-tern investment horizons are biased. Unbiased estimates exist only for investment horizon of one time-period. The purpose of our paper is to suggest a method based on the arithmetic mean in order to obtain unbiased estimates for the terminal value of long-tern...

Purpose -The purpose of this paper is to add to the existing literature by examining a number of hypotheses relating to the capital structure decision in relation to the firms’ size, namely by distinguishing among micro, small and medium firms. Design/methodology/approach - The paper examines...

Purpose – The purpose of this paper is to show that different methodologies may lead to different implications about the validity of the pecking order theory. Design/methodology/approach – Using data from Greek firms as a starting-point, the paper first investigates whether they follow the...

The main objective of this paper is to investigate whether differences in institutional characteristics result in different capital structure determination among countries. First, we analyze the institutional setting in Greece compared with that of other countries. Second, we provide survey...

Public companies were classified according to whether they remain public or they have been delisted voluntarily or not. Proxy variables were separated according to accounting and/or market information and an ordered polytomous logit model was then applied in order to estimate the probability of...