capital structure
Market Timing and Capital Structure
... of capital struc- ture in Zwiebel ~1996!, high market valuations allow managers to add equity but also allow them to become entrenched, resisting the debt finance neces- sary to restore debt to the ...that ...
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Capital structure determinants of financially constrained and unconstrained firms
... In firms where there is separation between manager and owner, as is more likely the case of publicly-owned firms, which tend to be large, both debt and dividend policies may be used as monitoring tools regarding the ...
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Determinants of capital structure : large Portuguese companies, 1984-1988
... In the business risk, they expected a negative relation with leverage, especially short term debt. Several researchs have studied the relation between this factor and leverage (Toy et al., 1974). Intuitively, higher risk ...
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Capital structure in Brazil: review of studies during the period of 1988-2003
... Research on capital structure determinants use various endogenous items already consecrated in international literature to explain company indebtedness. They are size, profitability, tangibility of assets ...
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Performance, valuation and capital structure: a survey of family firms
... of capital structure and they argued that it was irrelevant in determining the firm‘s value and its future ...of capital structure was ...perfect capital markets but without taxes, ...
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T HE CAPITAL STRUCTURE CHOICES OF LARGEE UROPEAN FIRMS
... (1958), capital structure is not relevant in perfect capital markets; however there are market imperfections, and thus there is indeed a concern regarding capital allocation in a ...
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Effects of capital structure on markups and competitive performance: evidence from Portugal
... growth. The theoretical link with the findings from the industry analysis is that firms compete primarily on the basis of prices and that, by setting lower prices, they can accelerate sales growth to attain a higher ...
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Corporate governance and capital structure : analysis for the portuguese and spanish stock indices
... This dissertation aims to verify what is and if there is an impact of corporate governance on capital structure decisions. This is an approach for the Iberian Peninsula, using data of the Portuguese and ...
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CAPITAL STRUCTURE AND DIVIDENDS Evidence from Portugal (2003-2014)
... This study helps to understand how Portuguese companies react with regards to their pay- out policy and leverage when they suffer changes on their capital structure and polices. It must be borne in mind ...
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CAPITAL STRUCTURE OF EXPORTER SMEs DURING THE FINANCIAL CRISIS: EVIDENCE FROM PORTUGAL
... Another feature that influences firms’ capital structure is profitability. On the one hand, as a consequence of the Pecking Other Theory, higher profitability leads to an increase in internal funds, and ...
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Capital structure of portuguese hotel firms: a structural equation modelling approach
... is capital- intensive, it is possible that non-payable costs associated with the depreciation of tangible assets are relevant in terms of tax benefits and therefore the following hypothesis is formulated: ...
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ANALYSIS OF CAPITAL STRUCTURE AND EFFICIENCY OF CAPITAL EMPLOYED IN AGRO-ALLIED FIRMS IN NIGERIA
... the capital structure and efficiency of capital employed between listed and unlisted agro-based firms in ...Z-test, Capital Structure Ratio (CSR) and Return on Capital Employed ...
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Determinants of capital structure: New evidence from Portuguese small firms
... optimal capital structure that maximizes the advantages of debt tax-shields and minimizes bankruptcy costs (Shyam-Sunder & Myers, 1999; Fama & French, 2002; Frank & Goyal, ...
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FINANCIAL MARKET DEVELOPMENT AND CAPITAL STRUCTURE OF LISTED FIRMS - EMPIRICAL EVIDENCE FROM GHANA
... Though capital structure literature is replete with studies in the developed and selected developing countries, there is a dearth of similar studies on how the development in the financial environment of a ...
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Corporate capital structure revisited: incomplete markets and default
... As the …rst graph below illustrates, with higher cash ‡ows the entrepreneur chooses a capital structure with more …nancial leverage (debt value divided by equity value). Since there may be a commitment to ...
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Board composition and capital structure choice
... the capital structure of a firm differ strongly among ...external capital will be ...internal capital will not suffice the capital that is demand, external funding needs to be ...
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THE HIDDEN VALUE BEHIND CAPITAL STRUCTURE DECISIONS
... the capital structure problem as “How do firms choose their capital structures? We don’t ...all-encompassing structure of strategic decision-making that fits every case, market, Industry and ...
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Capital Structure, Risk and Asymmetric Information: Theory and Evidence
... of capital structure and the nature of equilibrium in the financial market under the context of asymmetric ...the structure of the model is defined in Section ...
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Capital Structure and Sources of Funds with particular reference to Portuguese Industrial Companies
... their capital structure policies when facing a difficult ...meet capital needs and only 38,2% said that they would deviate from established capital structure ...
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Country factors and the dynamic modeling of capital structure: an empirical study of latin american firms
... With respect to the relevance of country idiosyncrasies, the negative sign of MX_LEV across the different specifications denotes a large, positive and significant at 95% impact over . Based on this, we may infer that ...
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