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Capital Structure and Regulation: Does Ownership Matter?

Cambini, Carlo; Bortolotti, Bernardo; Rondi, Laura; … - 2007

has a positive and significant effect on their investment levels. Our results are consistent with the theory that …

Persistent link: https://www.econbiz.de/10010312393

Neuberger, Doris; Räthke-Döppner, Solvig - 2012

Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contract- and...

Persistent link: https://www.econbiz.de/10010319296

A Real Options Perspective on R&D Portfolio Diversification

van Bekkum, Sjoerd; Pennings, Enrico; Smit, Han - 2007

. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and … portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option … are different from unconditional projects. We show that although the risk of a portfolio always depends on the correlation …

Persistent link: https://www.econbiz.de/10010326068

Finanzierungsstrategien und ihre Auswirkungen auf den Unternehmenswert deutscher Immobilien-Kapitalgesellschaften

Schönemann, Kristin - 2009

Der vorliegende Beitrag untersucht die steuerinduzierten Wirkungen der Außenfinanzierung auf den Unternehmenswert von Immobilien-Kapitalgesellschaften. Im diesem Bereich existieren neben der gewerblichen Immobilien-AG steuerbegünstigte Rechtsformen, wie die vermögensverwaltende Immobilien-AG...

Persistent link: https://www.econbiz.de/10010300876

The corporate debt market: A firm-level panel study for India

Guha-Khasnobis, Basudeb; Kar, Saibal - 2006

Traditionally, firms in India have shown a low preference towards debt financing, despite its advantages. Using panel data from 450 firms during 1992-93 and 2003-04, we attempt to identify factors which could explain the pattern of financing of manufacturing firms in India and the key...

Persistent link: https://www.econbiz.de/10010331078

Internal sources of finance and the great recession

Barnes, Michelle L.; Pancost, N. Aaron - 2010

The rising stockpile of cash as a share of total assets at U.S. firms has intrigued economists since at least the paper of Bates, Kahle, and Stulz (2006), yet there has been relatively little work on where this cash has come from and how it is related to investment performance. We exploit...

Persistent link: https://www.econbiz.de/10010280899

Regulatory independence and political interference: evidence from EU mixed-ownership utilities' investment and debt

Cambini, Carlo; Rondi, Laura - 2010

This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into account key institutional features of EU public utilities, such as: a) regulation by agencies with various degrees of independence; b) partial ownership of the state in the regulated...

Persistent link: https://www.econbiz.de/10010272479

Granularity of corporate debt

Choi, Jaewon; Hackbarth, Dirk; Zechner, Josef - 2013

We study to what extent firms spread out their debt maturity dates across time, which we call granularity of corporate debt. We consider the role of debt granularity using a simple model in which a firm's inability to roll over expiring debt causes inefficiencies, such as costly asset sales or...

Persistent link: https://www.econbiz.de/10010327533

Employing metrics of effectiveness in the capital structure management of an enterprise

Wieprow, Joanna - In: Economic and Environmental Studies (E&ES) 17 (2017) 4, pp. 969-984

Effectiveness metrics can be employed in the management of capital structure in an enterprise understood as a relationship between equity and liabilities on which interest is paid. In using the measures, it is possible to analyze and evaluate capital structure, and also to strive for its...

Persistent link: https://www.econbiz.de/10011984319

The determinants of capital structure: Evidence from public listed companies in Malaysia, Singapore and Thailand

M'ng, Jacinta Chan Phooi; Rahman, Mahfuzur; Sannacy, Selvam - In: Cogent Economics & Finance 5 (2017) 1, pp. 1-34

We investigate the determinants of capital structure of public listed companies on Bursa Malaysia, Singapore Stock Exchange and Thailand Stock Exchange from 2004 to 2013. We also investigate how firm-specific factors such as profitability, firm size, tangibility of assets and depreciation to...

Persistent link: https://www.econbiz.de/10011988819