Capital structure articles pdf
CAPITAL STRUCTURE ARTICLES PDF >> READ ONLINE
Key words: bank capital, capital regulation, capital structure, leverage. JEL-codes: G32, G21. To answer the question, we borrow extensively from the empirical corporate finance literature that has at length examined the capital structure of non-financial firms. This article examines the international determinants of capital structure using a large sample of firms from 37 countries. The reliable determinants for leverage are firm size, tangibility, industry leverage, profits, and inflation. The quality of the countries' institutions affects leverage and the adjustment This thesis examines capital structure theories and debt level determinants to develop a better understanding, and to establish the most appropriate theory to explain the behaviour of firms? debt and equity choices. It tests three major capital structure theories (e.g. the trade-off, pecking order and Key Words: Capital Structure, Determinants of Capital Structure, Capital structure in FTSE Optimal Capital Structure which is known as the mix of debt and equity for a firm to achieve the The work which is done by Modigliani and Miller is discussed in most papers and articles as the first and In this article, the authors systematized the factors that influence the capital structure of the company; analyzed the principles of building the optimal capital structure of the company; an algorithm for constructing an economically rational capital structure was developed and applied. Keywords: Capital structure, traditional trade-off theory, pecking order theory, market timing theory, Agency theory. The capital structure theory says what the source of money supply is and what the strategy should be adapted to get this source for buying firm's assets or investment on projects. Capital structure arbitrage is a class of strategies used by market participants such as credit hedge funds and certain banks. The basic idea behind the strategy is to go long one security in a company's capital structure while at the same time going short another security in the same company's capital ABSTRACT In this article, I discuss policy implications based on a study of the capital struc-ture of business start-ups. * This article results out of the research of my doctoral thesis "The Capital Structure of Business Start-ups" at K.U. Leuven. Capital structure is one of the key aspects for a successful operation of any company. According to [1] capital structure is targeting long-term funding sources used by companies to finance their development and to increase their market value. • the need to optimize capital structure and invest for growth against the neces-sity to maintain an adequate cushion of liquidity to face future downturns and eventual scarcity of Optimization is no longer about stabilizing capital structure; now it encompasses the most efficient capital allocation. Keywords: Capital Structure, Firm Size, Pecking Order Theory, Static Trade-Off Theory, Banking Sector, Kuwait Stock Exchange, Kuwait JEL Classifications: C42, G21, G32. 1 The opinions expressed in this article are the authors, own and do not reflect the view of their employers. The preponderance of capital structure research has relied on the debt to value, or debt, ratio (usually defined as the market value of debt divided by the market value of debt plus equity) as a This article generalizes and discusses empirical implications for these observations about capital structure. The preponderance of capital structure research has relied on the debt to value, or debt, ratio (usually defined as the market value of debt divided by the market value of debt plus equity) as a This article generalizes and discusses empirical implications for these observations about capital structure.
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