[PDF] Top 20 Interest Rate's Effect on Capital Structure: Evidence from US Listed Companies

... Estrutura de capital é um tópico bem conhecido nas finanças. Muitos estudos tentam prever o comportamento das decisões de financiamento e da estrutura de capitais. São muitas as teorias que nasceram acerca deste ... See full document

... many companies compete on the basis of ...firm’s capital structure can restrict the extent to which a firm can reduce its ...the effect of capital structure on ... See full document

... and capital structure, there are also different ...Coinsurance Effect relies on the idea that diversification reduces the likelihood of default of the aggregated firm, augmenting debt capacity ... See full document

... based on a set of assumptions, such as: absence of taxes; absence of transaction costs to borrow or lend at the interest rate without risk; the absence of bankruptcy costs; the companies can ... See full document

... has on firms’ investment ...of interest to scholars, managers and ...certain interest rate and with it acquiring assets with a higher expected rate of return, a firm may increase its ... See full document

... are on their knees” demonstrates the concern with the global tendency of the companies, going along with the 2011’s The Economist issue, on which ...left on the statement of financial ... See full document

... Titman & Wessels (1988) could not confirm the significance of the effect of non- debt tax shields on the debt level of the companies. And, some literature finds an inverse relation between the ... See full document

... arising from information asymmetries between firms and debtholders through ...borrowers on behalf of depositors. Empirical evidence indicates that bank-firm relationship is crucial in financing ... See full document

... publicly listed companies on the Tehran Stock Exchange, this paper has examined the effect of intellectual capital on firm ...intellectual capital had no effect ... See full document

... based on a set of assumptions, such as: absence of taxes; absence of transaction costs to borrow or lend at the interest rate without risk; the absence of bankruptcy costs; the companies can ... See full document

... variable, on account of being correlated with additional return measures (Bettis, ...dependent on the investment opportunities and the cash flow ...taxes from its positive earnings, using deductible ... See full document

... Our results show that there is no prevailing theory when we analyze German firms. Unlike in non-debt tax shield (in total debt regression) and risk, all our hypotheses are confirmed. We can verify our results are ... See full document

... no interest rate can`t be considered a relevant indicator comparing prices for certain loans because it doesn`t account for commissions charged by the bank, and these values increasingly higher because some ... See full document

... period, on the other, the selection of a 2-year cross section of data prevented the author to adopt different statistical tools, such as panel ...relying on a single country, but rather expanding the ... See full document

... empirical capital structure investigations is presented in the paper of Graham & Leary ...of capital structure variation: cross-firm, cross-industry, and within-firm through ...observed ... See full document

... The problem with the previous regulation was that in order to elect a derivative to hedge accounting, it had to respect a set of very demanding requirements. This may have contributed to many financial and non- financial ... See full document

... disentangled from the totally observed relationship between credit rating and the firms’ ...supply-side effect only on the level of leverage at every phase, stating quite significant degree of ... See full document

... that capital structure affects firm’s value and performance from various research ...firm’s capital. This conflict of interest can influence by constraining or encouraging managers to ... See full document

... Portuguese companies behave similarly to firms in Japan, Italy, and Canada, and to the opposite of ones in the United ...found evidence against the static Trade-Off model, which states that more profitable ... See full document

... Findings from many studies have concluded that the company size becomes an important determinant of capital structure, and many studies find that larger companies use more debt than the ... See full document