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A note on the Nelson-Cao inequality constraints in the GJR-GARCH model : is there a leverage effect?

Stavroyiannis, Stavros - In: International journal of economics and business research 16 (2018) 4, pp. 442-452

Persistent link: https://www.econbiz.de/10011990733

A triple-threshold leverage stochastic volatility model

Wu, Xin-Yu; Zhou, Hai-Lin - In: Studies in nonlinear dynamics and econometrics : SNDE ; … 19 (2015) 4, pp. 483-500

Persistent link: https://www.econbiz.de/10011339413

The difference between Modigliani-Miller and Miles-Ezzell and its consequences for the valuation of annuities

Becker, Denis M. - In: Cogent Economics & Finance 9 (2021) 1, pp. 1-24

This paper addresses the differences between the Modigliani-Miller [M&M] model (1958, 1963) and the Miles-Ezzell [M&E] model (1980, 1985). The main difference between these two models concerns the stochasticity of the free cash flows. While M&M assumes a strictly stationary process, M&E's...

Persistent link: https://www.econbiz.de/10014001584

Company capital structure and tax: a study of mid-sized European companies

Cheng, Yue - 2008

This thesis analyses the impact of tax policy on firms' leverage ratios in a balanced panel of 129 medium-sized listed … companies from II European countries from 1993 to 2005. A general model of company leverage is applied within which King's tax … finance. Various leverage measures are studied to check for the robustness of the estimated model. Total debt is then …

Persistent link: https://www.econbiz.de/10009461243

NASDAQ OMX Baltic listinguojamų įmonių kapitalo struktūros tyrimas

Armonas, Arūnas - 2011

results. Study carried out by two of three set in the hypotheses. First, the amount of leverage and maturity there is a …

Persistent link: https://www.econbiz.de/10009478376

Essays on capital structure and investment

Dudley, Evan (1973; Smith, Clifford W.

recapitalization. The model reproduces known relations between firm size, leverage and growth opportunities. The model predicts that … firms time capital structure adjustments to their target leverage ratios with the exercise of their growth options. Compared … profitable firms have higher leverage. Firms facing low corporate tax rates choose not to issue any debt. Increases in volatility …

Persistent link: https://www.econbiz.de/10009483041

Internal and external determinants of capital structure in large Korean firms

Tulcanaza Prieto, Ana Belen; Lee, Young Hwan - In: Global Business & Finance Review (GBFR) 24 (2019) 3, pp. 79-96

Persistent link: https://www.econbiz.de/10012286687

Correlation-and-regression analysis of the influence of macroeconomic factors on capital structure of Russian corporations under crisis conditions

Metel'skaya, Valeriya Valer'evna - In: Journal of Innovation and Entrepreneurship 10 (2021) 1, pp. 1-34

study is aimed at empirical testing of hypotheses on how the level of financial leverage of corporations depends on … leverage and plays a prominent role in making financial decisions after the financial crisis. …

Persistent link: https://www.econbiz.de/10013205680

The impact of credit ratings on capital structure

Aktan, Bora; Çelik, Şaban; Abdulla, Yomna; … - In: ISRA International Journal of Islamic Finance 11 (2019) 2, pp. 226-245

Design/methodology/approach The study uses three models to examine the impact of credit rating on capital structure decisions within the framework of credit rating-capital structure hypotheses (broad rating, notch rating and investment or speculative grade). These hypotheses are tested by...

Persistent link: https://www.econbiz.de/10012600406

Government ownership and the capital structure of firms: Analysis of an institutional context from China

Huang, Xiaohong; Kabir, Rezaul; Zhang, Lingling - In: China Journal of Accounting Research 11 (2018) 3, pp. 171-185

the impact of government ownership on leverage is dependent on whether the government is the largest shareholder in a firm … non-government shareholder positively influences leverage. Overall, our results reveal that the largest controlling …

Persistent link: https://www.econbiz.de/10012621003