The paper reports research carried out within the national bank of belgium's project, new views on firms' investment and finance decisions i would like to thank the nbb for their support and my co-researchers on this project for their comments i would also like to thank my colleague andrew carverhill. Die dis cus si on pape rs die nen einer mög lichst schnel len ver brei tung von neue ren for schungs arbei ten des zew die bei trä ge lie gen in allei ni ger ver ant wor tung der auto ren und stel len nicht not wen di ger wei se die mei nung des zew dar dis cus si on papers are inten ded to make results of zew research. Any opinions expressed in this paper are those of the author(s) and not those of iza research published in this series may include views on policy, but iza takes no institutional policy positions the iza research network is committed to the iza guiding principles of research integrity the iza institute of labor economics is. Why some firms are able to converge faster to their optimal capital structure 3 data most of the empirical research on capital structure relies on data for large publicly traded firms in this paper, we use a dataset available at banco de portugal, the central balance sheet database, which has a wide. Nber working paper series the capital structure decisions of new firms alicia m robb david t robinson working paper 16272 http:// wwwnberorg/papers/w16272 national bureau of economic research 1050 massachusetts avenue cambridge, ma 02138 august 2010 the authors.
Single sentence summary: this paper highlights the major gaps in the literature on determinants of capital structure showing an increase of interest in research on determinants of capital structure of the firms located in emerging markets abstract:. The data for this research paper was collected from datastream, an electronic financial database the analysis of this paper shows that gearing is generally higher among contractors than developers and capital lalith, ps (1999) investigated the capital structure of srilankan companies and found that the use of long-term. Key words: capital structure, financial performance, business companies i introduction modigliani and miller published their paper on the cost of capital, corporate finance and investment theory in 1958, and hence the development of their capital structure irrelevance theorem, a vast amount of research has focused on. Abstract the various financing decisions are vital for the financial welfare of the firm a false decision about the capital structure may lead to financial distress and eventually to bankruptcy the management of a firm sets its capital structure in a way that firm's value is maximized however, firms do choose different.
Two main financing issues, namely firms' payout policies and capital structure decisions, in the context of emerging markets the thesis consists of seven chapters, including five main standalone research papers after an introductory chapter, the first research paper reviews the existing literature on the dividend policy. Determinants of capital structure and its impact on the performance of ethiopian insurance industry a research paper in partial fulfillment of the requirements for the degree of master of science in accounting and finance by: mohammed getahun. The paper examines theoretically and explores empirically the problem of the banking firm's capital about corporate capital structure, research produced so far did not provide yet a sound basis for establishing, in a number of potential determinants of capital structure» choice (harris and raviv 1991), empirical literature.
This paper focuses on the determinants to optimal capital structure among different financial systems recent theoretical research on endogenous technological change stresses the it is entrepreneurial selection and the financing of tangible and intangible investment that lead to innovation this research points out that. Studies that it receives little to no discussion in most research papers even though not uncommonly it is among the most significant variables this paper's goal is to provide rationale for one of the size relationships, that is between firm size and capital structure cross-sectionally, it has been consistently found that large firms. This paper reviews empirical capital structure research, concentrating on papers published since 2005 we begin by documenting three dimensions of capital struc. Traditional leverage determinants might also improve upon better empirical characterization our paper adds to current research on capital structure by considering credit supply-side frictions as determinants of leverage a few recent papers have explored related ideas benm- elech (2009) uses variation in the width of track.
Contrary to widely held beliefs that startup companies rely heavily on funding from family and friends, a kauffman foundation research paper released today reported that external debt financing such as bank loans are the more common sources of funding for many companies during their first year of. Examine the effect of capital structure on profitability of non-financial quoted firms in nigeria in the context of the country's ongoing economic reforms the rest of the paper contains four sections section 2 provides literature review section 3 dealt with research methods while section four presents the results concluding.