Yazdanfar, Darush; Öhman, Peter - In: The Journal of Risk Finance 17 (2016) 2, pp. 245-260
Purpose This paper aims to empirically investigate the existence of dynamic capital structure among small and medium-sized enterprises (SMEs) across their life cycle stages. Design/methodology/approach The analysis examined a sample of 15,952 SMEs across five industry sectors for the 2009-2012...