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Sources of Capital Structure: Evidence from Transition Countries

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Authors and Corporations: Joeveer, Karin (Author)
Type of Resource: E-Book
Language: Undetermined
[S.l.] SSRN [2008]
Series: CERGE-EI Working Paper
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Summary: This study explores the significance of firm-specific, institutional, and macroeconomic factors in explaining variation in leverage using a sample of firms from nine Eastern European countries. Country-specific factors are the main determinants of variation in leverage for small unlisted companies, while firm-specific factors explain most of the variation in leverage for listed and large unlisted companies. Around half of the variation in leverage related to country factors is explained by known macroeconomic and institutional factors, while the remainder is explained by unmeasurable institutional differences (e.g. law and enforcement). These findings are in line with the results for Western European countries in Jotilde;eveer (2005) and show that country characteristics are not more significant determinants of leverage in these transition economies
Item Description: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 1, 2006 erstellt
Physical Description: 1 Online-Ressource (29 p)
DOI: 10.2139/ssrn.1130306
Access: Open Access