[PDF] Top 20 The influence of Corporate Strategy in Capital Structure - Evidence from UK listed firms

... For the Pecking Order theory, as argued by Donaldson (1961), Myers (1984) and Myers and Majluf (1984) firms prefer to finance their projects first recurring to internal funds and only after recurring to ... See full document

... society in general is still open to debate. The current prolonged recession, corporate scandals and the collapse of stock markets have result in a return to the kind ... See full document

... On the other hand, Titman & Wessels (1988) obtained different conclusions because they could not confirm the relevance of the effect of depreciation and amortization on the ... See full document

... analyze the determinants of the leverage choice of German firms and analyze which financial theory better explains the leverage ratio, more specifically the trade-off ... See full document

... between firms’ non-observable individual effects and debt ...to the firm, e.g. entry barriers and competitiveness of the ...and capital structure determinants, the most ... See full document

... analyses the influence of a number of firm characteristic determinants on SMEs capital structure ...set of 277 exporter SMEs in Portugal, covering a period ... See full document

... investigating the concept of a target ratio with a sample of 1,188 large takeovers between 1981 and ...a capital structure model which includes a target level and adjustment ...that ... See full document

... that the proportion of total shares held by insiders, the second proxy for the agency costs hypothesis, has a negative impact on the level of dividends ...on the size ... See full document

... peculiarities of the Portuguese economy are also relevant in our ...that the Portuguese capital market is still very under-developed even by EU- ...occur in a country where debt ... See full document

... presented in equity and debt-controlled firms, as it was mentioned in agency costs ...However, in growth industries/firms, the costs are higher than usual, since these type ... See full document

... trend in the cash holdings for US firms ...(EU) firms (Ferreira and Vilela ...on the determinants of corporate cash ...1999); UK setting (Al-Najjar and Belghitar ... See full document

... Results: The results provide evidence that the determinants normally considered by standard finance theory are in fact – in terms of sign and coefficient dimension – those used ... See full document

... purpose of the present study is to endeavor the explanatory capacity of family ownership in determining the capital structure of the ...purpose ... See full document

... between the cost of debt and the leverage ratio (H1), as suggested by the pecking order, the trade-off and implied in the market timing ...advantage of the ... See full document

... reports the empirical results of a questionnaire survey about corporate dividend policy addressed to finance directors of UK and Portuguese listed ...2005 in the US ... See full document

... started in the nineties resulted in a series of important consequences, in particular, after more the ninety years of public monopoly of the services and ... See full document

... to the existing academic literature in two main ...costs of unemployment are largely absent from theories in corporate finance, which do not emphasize labor market ...that ... See full document

... 1 of model 1 shows that, in the first year after the IPO, the coefficient of the dummy variable HOT (significant at 5%) is less negative than in the IPO year ... See full document

... analyses firms’ characteristics that influence managers’ decisions about how to finance their ...affect the capital structure of the ...variables. The sample ... See full document

... empirical evidence on the impact of cash-flow on cash holdings. In general, firms should have a preference for internal over external finance in the presence of ... See full document