Search Results - subject_exact:"Capital structure theory"

The effect of regulatory liquidity measure on bank capital structure

Mabandla, Ndonwabile Zimasa; Marozva, Godfrey - 2026

This study investigates the effects of liquidity regulation, specifically the liquidity coverage ratio (LCR), on the capital structure of South African banks, with a focus on debt maturity composition. Using panel data covering the period 2015-2024, the analysis applies the Generalized Method of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015656185

The effects of technology and liquidity on bank capital structure

Mabandla, Ndonwabile Zimasa - 2026

This research enhances the literature on bank capital structure by combining financial intermediation theory with technological innovation to analyse the impact of FinTech adoption and liquidity management on leverage choices in South African banks. Utilising panel data spanning 2015 to 2024 and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015652196

Managerial shareholding and performance in LBOs: Evidence from the MENA region

Attahiri, Abir; Zineelabidine, Maroua; Makhroute, Mohamed - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015469693

Trade-off theory vs. the pecking order hypothesis : Japanese evidence on capital structure under financial constraints

Voutsinas, Konstantinos; Werner, Richard A. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015654655

Capital structure specificity in knowledge-intensive industries : a comparative study of EU countries

Gostkowska-Drzewicka, Magdalena; Koralun-Bereźnicka, Julia - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015329635

Debt, equity, and the pecking order : evidence from financing decisions of dividend-paying firms

Kakouris, Konstantinos; Psychoyios, Dimitrios - 2025

This study investigates whether, and to what extent, dividend-paying firms follow pecking order behavior when altering their capital structure. Using a panel of 3173 U.S. firms from 1960 to 2020 (49,424 firm-year observations), we examine four financing activities: equity and debt issuance under...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015457881

The capital structure of microfinance borrowers : a dynamic market segmentation analysis

Souza, Lucas Lopes Ferreira de; Bassi, Francesca; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015462498

Capital structure theories in US corporate divestitures : a study on spin-off firms

Chen, Xian; Guha, Sanjib; Simu, Tahsina Haque - 2025

Some giant US conglomerates are now undergoing corporate spin-offs or are considering such spin-offs in the near future. Corporate spin-offs offer a unique opportunity to assess corporate capital structure decisions. The leverage ratio of the spin-off firms represents their initial capital...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015462954

Managerial shareholding and performance in LBOs : evidence from the MENA region

Attahiri, Abir; Zineelabidine, Maroua; Makhroute, Mohamed - 2025

This research explores the impact of ownership structure on the financial performance of Leveraged Buyout (LBO) transactions in the MENA region, a key emerging market region. Drawing on agency theory by Jensen & Meckling and the capital structure theory of Modigliani and Miller, the study...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015441104

Cash holdings in MENA region : evidence from trade-off model, pecking order theory, and agency theory

Tahir Akhtar - 2025

This study examines firms' cash holdings (CH) in the MENA region. For the period 2000-2020, the fixed effect method and GMM are applied to a sample of 1053 non-financial firms. The results show that firms that are large in size, and higher in cash flows, R&D, and dividend payments have higher...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614416

Corporate financing in the deleveraging era : an exploratory analysis for Italian firms

Zeli, Alessandro; Bini, Matilde - 2025

Our analysis focuses on understanding the financing behaviour of Italian firms during a period marked by a significant economic crisis and the resulting deleveraging process. The objective is to identify the determinants of Italian firms' leverage decisions during this deleveraging phase and to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015615524

Firm performance and capital structure : does liquidity matter?

Nduwimana, Alice; Mabandla, Ndonwabile Zimasa; Marozva, … - 2025

This research examines how capital structure and liquidity impact the financial performance of South African firms from 2012 to 2023. Using panel data methodologies and the Generalised Method of Moments (GMM) estimation, the study addresses potential endogeneity issues and inaccuracies in the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015589426

The relationship between changes in corporate payout policy and capital structure

Kim, Songhee; Khil, Jaeuk; Lee, Yu Kyung - 2024

This paper aims to investigate the impact of corporate dividend policy on the capital structure in the Korean stock market. To distinctly discern the voluntariness of changes in corporate dividend policy, we analyze companies that, following a substantial increase, do not reduce dividends for...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015054088

Capital structure models and contingent convertible securities

Meng, Di; Metzler, Adam; Reesor, R. Mark - 2024

We implemented a methodology to calibrate capital structure models for banks that have issued contingent convertible securities (CoCos). Typical studies involving capital structure model calibration focus on non-financial firms as they have lower leverage and no contingent convertible...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014497414

The influence of the financial system on the puzzle of corporate financing decisions : review

Rogão, Cristina Rêgo - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015272526

Determinants of corporate leverage and sustainability of small and medium-sized enterprises : the case of commercial companies in Ecuador

Gutiérrez-Ponce, Herenia - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015339943

Family ownership and speed of adjustment towards targeted capital structures : a study of ASEAN firms

Lan Thi Mai Nguyen; Tran, Trang Khanh; Truong, Cameron - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014537495

Currency change and capital structure decisions : evidence from the birth of the Euro area

Botta, Marco - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014583056

What determines intragroup debt financing? : Spanish evidence

Grau-Vera, David; Sogorb-Mira, Francisco - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015396119

Impact of the global financial crisis and the Tunisia's Jasmine revolution on the corporate capital structure : evidence from four Arab countries

Hamouda, Raja Zekri Ben; Jilani, Faouzi - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014431374

Dividend policy as a mediator between capital structure and profitability in manufacturing companies listed on ASE : 2010-2021

Abu Risheh, Khaled E.; Hyasat, Eyad; Elessa, Mohammad Salim - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014340138

Pecking order theory of capital structure : empirical evidence for listed SMEs in India

Singh, Kuldeep; Pillai, Deepa; Rastogi, Shailesh - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015329702

What factors are economically important in the capital structure decision of European firms?

Olson, Dennis; Bartholdy, Jan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015444702

Audit attribute-based capital financing decision in NSE-listed companies : evidence from India

Debbarma, Juhendra; Roy, Chinmoy; Chakraborty, Manik - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015557139

Pecking order approach vs. trade-off approach : multifaceted testing of appropriateness for the financing pattern of Indian automobile industry

Ruhil, Madhu; Malhotra, Latika; Upadhyaya, Tara Prasad; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015627935

Does being Shariah-compliant affect capital structure decision : evidence from emerging markets

Bugshan, Abdullah; Bakry, Walid - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015414641

Temporal orientation in investment decisions and capital structure

Lefebvre, Vivien - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015575546

A review of the applicability of the main theories of financial structure to Spanish worker cooperatives

Herce Lezeta, Beñat; Gago García, Monica; Arenaza … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015515308

Capital Structure in the Modern World : The Fundamentals of Capital Structure Management and Financing Decisions

Miglo, Anton - 2025 - 2nd ed. 2025.

Section 1: Basic Capital Structure Ideas -- Chapter 1: Introduction -- Chapter 2: Modigliani-Miller Proposition and Trade-off Theory -- Chapter 3: Asymmetric Information and Capital Structure -- Chapter 4: Credit Rationing and Asset Substitution -- Chapter 5: Debt Overhang -- Chapter 6: Capital...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015404866

Price Ceiling, Market Structure, and Payout Policies

Li, Xiongshi; Ye, Mao; Zheng, Miles - 2022

To prevent firms from manipulating prices, U.S. regulators set price ceilings for open-market share repurchases. We find that market-structure reforms in the 1990s and 2000s dramatically increased share repurchases because they relaxed constraints on issuers seeking to compete with other traders...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013309123

Shotgun wedding : fiscal and monetary policy

Bassetto, Marco; Sargent, Thomas J. - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012222077

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Shotgun Wedding : Fiscal and Monetary Policy

Bassetto, Marco; Sargent, Thomas J. - 2022

Book / Working Paper

Shotgun Wedding : Fiscal and Monetary Policy

Bassetto, Marco - 2020

Book / Working Paper

Shotgun Wedding : Fiscal and Monetary Policy

Bassetto, Marco; Sargent, Thomas J. - 2020

Book / Working Paper

Non-linear capital structure dynamics

Botta, Marco; Colombo, Luca Vittorio Angelo - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013468735

What is the optimal financial structure applicable to all companies

Djomo, Chimba Ulrich - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013460178

A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets

Neugebauer, Tibor; Shachat, Jason M.; Szymczak, Wiebke - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014492173

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A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets

Neugebauer, Tibor; Shachat, Jason M.; Szymczak, Wiebke - 2020

Book / Working Paper

A Test of the Modigliani-Miller Theorem, Dividend Policy and Algorithmic Arbitrage in Experimental Asset Markets

Neugebauer, Tibor; Shachat, Jason M.; Szymczak, Wiebke - 2022

Book / Working Paper

Price ceiling, market structure, and payout policies

Ye, Mao; Zheng, Miles; Li, Xiongshi - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012395504

Show 2 more versions 2

Price Ceiling, Market Structure, and Payout Policies

Ye, Mao; Zheng, Miles; Li, Xiongshi - 2022

Book / Working Paper

Price Ceiling, Market Structure, and Payout Policies

Ye, Mao - 2020

Book / Working Paper

Influencing factors that determine capital structure decisions : a review from the past to present

Boateng, Prince Yeboah; Ahamed, Baba Issah; Soku, … - 2022

This review study seeks to assess the state of determinants of corporate capital structure over the last 7 years to aid discover gaps as opportunity for further research. The review used a sample of 68 published journal articles in divers high-ranked journals spanning the years 2014-2020. The...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014444536

The effects of information environment on internal and external financing choices

Liao, Li-Kai; Wang, Victoria S.P. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015061455

Capital structure of single family office-owned firms

Block, Jörn; Fathollahi, Reza; Eroglu, Onur - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015062522

Die Kapitalstruktur deutscher börsennotierter Unternehmen : eine empirische Untersuchung von Kapitalstrukturdeterminanten im Zeitraum 2005-2022

Schmid, Christoph; Möbius, Christian - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014546533

Targeting behavior and capital structure theories: An empirical analysis of gulf cooperation council countries

Sunitha, K. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015076697

Reassessing theories of capital structure : empirical insights from companies listed in Vietnam

Dai, Ya; Guo, Liang; Guo, Chang; Zhang, Hongxian - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014535573

Trade-off vs. pecking order theory : panel data approach

Khajabee M. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015173628

Political connections and capital structure in the GCC banks

Ahmed, Fatma; Elgammal, Mohammed - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015179433

Effect of determinants on financial leverage in FMCG industry : an empirical study of capital structure prior to COVID-19

Sisodia, Anjali; Maheshwari, Girish C. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556556

Does internal cash flow-external financing sensitivity react to economic policy uncertainty and geopolitical risk? : evidence from Saudi Arabia

Guizani, Moncef - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014538797

A Modigliani-Miller theorem for the public finances of globalized economies

Bossone, Biagio - 2024

In line with the capital structure irrelevance principle of Modigliani and Miller (1958), this article shows that when international capital allocation choices are determined by well-informed, deep-pocketed global financial investors, there are no net gains a government of a highly...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014543921

Corporate capital structure in Europe : the role of country, industry and firm size

Koralun-Bereźnicka, Julia; Gostkowska-Drzewicka, Magdalena - 2024

Introduction1.Interpretation and measurement of capital structure in the light of theories2. Capital structure determinants according to empirical findings: a literature review 3. The role of country, industry and firm size in the differentiation of capital structure: Research methodology 4. The...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015068714

Corporate management : capital structure and tax shields

Michalkova, Lucia; Stehel, Vojtech; Nica, Elvira; … - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013162722

Does the Corporate Capital Structure Theory Apply to Banks? Evidence from the Field

Coutinho dos Santos, Mário - 2021

This paper investigates the value relevance of banks’ capital structure voluntary choices, their determinants, and preference in terms of funding mix policy models, using a unique survey-based dataset gathered through a face-to-face interview structured questionnaire, conducted to a sample of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013248194

Trade-Off Theory and Pecking Order Theory : Evidence from Real Estate Companies in Vietnam

Hoang, Le Duc; Viet, Nguyen Quang; Anh, Nguyen Huaong - 2021

This study was implemented with the goal of testing the validity of trade-off theory and pecking order theory in determining the capital structure in 50 listed real estate companies in Vietnam. The result of this study shows that the pecking order theory is the more appropriate and should be...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013228770