The purpose of this research is to determine the effect of capital structure on the profitability of Vietnamese commercial banks. Specifically, it investigates the relationship between capital structure and profitability using an imbalanced panel data set of Vietnamese commercial banks from 2012...

We test the assumptions of trade-off theory (TOT) and pecking order theory (POT) regarding corporate leverage. The dependent variable being the debt ratio, we apply a linear model upon a balanced panel data-set of 2,370 French SMEs over the period 2002 - 2010. In accordance to TOT, trade credit...

We use a dynamic framework and panel methodology to investigate the determinants of a firms' time-varying capital structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002. If capital structure adjustment is costly, firms may...

Using panel data for 2,329 Belgian firms observed between 1985 and 1999, this paper aims at getting a better understanding of Belgian firms' investment behavior. Two main and interrelated topics are investigated: the link between financial structure and investment decision, on the one hand, the...

The capital structure decision plays an important role in the performance of a firm. Therefore, there have been many studies inspecting the rapport of capital structure with the performance of firms, although the findings of these studies are inconclusive. In addition, there is a relative...

This paper studies how variations in tax rates and profitability affect the (unconditional) quantiles of the distribution of the leverage of European foreign owned subsidiaries in the presence of unobserved company characteristics, possibly correlated with their observable dimensions. To achieve...

This study investigates the financing decisions within German SMEs, examining firm-specific, macroeconomic, and news-related determinants. Utilizing a 10-year dataset encompassing 13,051 SMEs, we employ a dynamic panel data model with an unbiased Dynamic Panel Fractional (DPF) estimator to...

The purpose of this research is to determine the effect of capital structure on the profitability of Vietnamese commercial banks. Specifically, it investigates the relationship between capital structure and profitability using an imbalanced panel data set of Vietnamese commercial banks from 2012...

This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm?s equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...

We use a dynamic adjustment model and panel methodology to investigate the determinants of a time- varying optimal capital structure. Because firms may temporarily deviate from their optimal capital structure in the presence of adjustment costs, we also endogenize the adjustment process. In...