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debt financing after the introduction of the euro. Results are stronger during the latter half of our sample period, for … large firms and for firms dependent on external financing. These results support the hypothesis that the supply of capital …
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Using a measure of operating leverage that directly reflects the importance of fixed operating costs in firms' cost structures, we investigate why operating leverage is related to financial policies. High fixed cost firms have lower leverage and larger cash holdings than low fixed cost firms not...
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In this paper we study how the introduction of the euro has affected corporate financing in Europe. We use firm … and their debt financing compared to the control group. We also show that results are stronger for firms that hail from … financing have increased their debt financing more. These results support the hypothesis that improved access to capital markets …
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We study the financing policies of European public corporations prior to the euro crisis. Using data from eleven euro … countries with previously weak currencies considerably increased their debt financing after the introduction of the euro. The … results are stronger for large firms, firms dependent on external financing and for the latter part of the post-euro time …
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