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We empirically test the market timing theory of capital structure of issuing behavior of UK firms and find that the debt-equity choice decision is non-linear. In line with the previous literature, we find that managers are more likely to issue equity (debt) when equities are overvalued...
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The study reveals the influence of macroeconomic factors on decisions about the optimal capital structure formation under financial globalization, in view of ever-changing factors of the external economic and geopolitical environment. The study is aimed at empirical testing of hypotheses on how...
Persistent link: https://www.econbiz.de/10012591018
successful companies. We examine the long-term financing of these so-called scale-up companies, focusing on the US, Europe and … Canada. The paper first provides a conceptual framework for understanding the challenges of financing scale-ups. It then … shows some data about the various aspects of financing scale-ups in the US, Europe and Canada. Finally the paper raises the …
Persistent link: https://www.econbiz.de/10012963506
Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as asymmetrical information, while others regard familial connections as conduits for inefficiency, with...
Persistent link: https://www.econbiz.de/10012965431
We conduct face-to-face interviews with bank CEOs to classify 397 banks across 21 countries as either relationship or transaction lenders. We then use the geographic coordinates of these banks' branches and of 14,100 businesses to analyze how the lending techniques of banks in the vicinity of...
Persistent link: https://www.econbiz.de/10012972990
Marko Bender analyzes the impact of spatial proximity between venture capitalists and new ventures throughout the investment process. He elaborates a comprehensive theoretical framework and empirically validates resulting hypotheses concerning the observed spatial proximity and the impact of...
Persistent link: https://www.econbiz.de/10014015231