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The determinants of capital structure in transitional economies

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  • Delcoure, Natalya
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    Bibliographic Info

    Article provided by Elsevier in its journal International Review of Economics & Finance.

    Volume (Year): 16 (2007)
    Issue (Month): 3 ()
    Pages: 400-415

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    Handle: RePEc:eee:reveco:v:16:y:2007:i:3:p:400-415

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    Web page: http://www.elsevier.com/locate/inca/620165

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-29, May.
    2. Stulz, ReneM., 1990. "Managerial discretion and optimal financing policies," Journal of Financial Economics, Elsevier, vol. 26(1), pages 3-27, July.
    3. Eugene Nivorozhkin, 2003. "The dynamics of capital structure in transition economies," Macroeconomics 0303005, EconWPA.
    4. Titman, Sheridan & Wessels, Roberto, 1988. " The Determinants of Capital Structure Choice," Journal of Finance, American Finance Association, vol. 43(1), pages 1-19, March.
    5. Marsh, Paul, 1982. " The Choice between Equity and Debt: An Empirical Study," Journal of Finance, American Finance Association, vol. 37(1), pages 121-44, March.
    6. Chen, Jean J., 2004. "Determinants of capital structure of Chinese-listed companies," Journal of Business Research, Elsevier, vol. 57(12), pages 1341-1351, December.
    7. Laurence Booth, 2001. "Capital Structures in Developing Countries," Journal of Finance, American Finance Association, vol. 56(1), pages 87-130, 02.
    8. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
    9. Williamson, Oliver E, 1988. " Corporate Finance and Corporate Governance," Journal of Finance, American Finance Association, vol. 43(3), pages 567-91, July.
    10. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    11. Jeffrey MacKie-Mason, 1988. "Do Taxes Affect Corporate Financing Decisions?," NBER Working Papers 2632, National Bureau of Economic Research, Inc.
    12. Raghuram G. Rajan & Luigi Zingales, 1994. "What Do We Know About Capital Structure? Some Evidence from International Data," NBER Working Papers 4875, National Bureau of Economic Research, Inc.
    13. Myers, Stewart C., 1977. "Determinants of corporate borrowing," Journal of Financial Economics, Elsevier, vol. 5(2), pages 147-175, November.
    14. Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    15. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    16. Nivorozhkin, Eugene, 2003. "The dynamics of capital structure in transition economies," BOFIT Discussion Papers 2/2003, Bank of Finland, Institute for Economies in Transition.
    17. Wald, John K, 1999. "How Firm Characteristics Affect Capital Structure: An International Comparison," Journal of Financial Research, Southern Finance Association & Southwestern Finance Association, vol. 22(2), pages 161-87, Summer.
    18. King, Robert G. & Levine, Ross, 1993. "Finance and growth : Schumpeter might be right," Policy Research Working Paper Series 1083, The World Bank.
    19. de Miguel, Alberto & Pindado, Julio, 2001. "Determinants of capital structure: new evidence from Spanish panel data," Journal of Corporate Finance, Elsevier, vol. 7(1), pages 77-99, March.
    20. Miller, Merton H, 1977. "Debt and Taxes," Journal of Finance, American Finance Association, vol. 32(2), pages 261-75, May.
    21. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    22. DeAngelo, Harry & Masulis, Ronald W., 1980. "Optimal capital structure under corporate and personal taxation," Journal of Financial Economics, Elsevier, vol. 8(1), pages 3-29, March.
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    Cited by:
    1. Andreas Stephan & Oleksandr Talavera & Andriy Tsapin, 2010. "Corporate Debt Maturity Choice in Emerging Financial Markets," University of East Anglia Applied and Financial Economics Working Paper Series 010, School of Economics, University of East Anglia, Norwich, UK..
    2. Andreas Stephan & Andriy Tsapin & Oleksandr Talavera, 2009. "Why Do Firms Switch Their Main Bank?: Theory and Evidence from Ukraine," Discussion Papers of DIW Berlin 894, DIW Berlin, German Institute for Economic Research.
    3. Salla Pöyry & Benjamin Maury, 2010. "Influential ownership and capital structure," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(5), pages 311-324.
    4. Boyd, John H. & Jalal, Abu M., 2012. "A new measure of financial development: Theory leads measurement," Journal of Development Economics, Elsevier, vol. 99(2), pages 341-357.
    5. Seifert, Bruce & Gonenc, Halit, 2008. "The international evidence on the pecking order hypothesis," Journal of Multinational Financial Management, Elsevier, vol. 18(3), pages 244-260, July.
    6. Soumaya Hergli & Frederic Teulon, 2014. "Capital structure’s explanatory factors : The Maghreb case," Working Papers 2014-098, Department of Research, Ipag Business School.
    7. Khaled Hussainey & Khaled Aljifri, 2012. "Corporate governance mechanisms and capital structure in UAE," Journal of Applied Accounting Research, Emerald Group Publishing, vol. 13(2), pages 145-160.
    8. Morar Triandafil, Cristina & Poanta, Dorina, 2011. "Central and East European Corporate Finance: Between Commonality and Heterogeneity," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 132-161, September.
    9. Gharsalli Mazen, 2012. "French firm's financing choices: towards a reconciliation of the static trade-off theory and the pecking order theory?," Post-Print hal-00603762, HAL.
    10. Chen, Dar-Hsin & Chen, Chun-Da & Chen, Jianguo & Huang, Yu-Fang, 2013. "Panel data analyses of the pecking order theory and the market timing theory of capital structure in Taiwan," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 1-13.
    11. Anastasiya Shamshur, 2009. "Is the Stability of Leverage Ratios Determined by the Stability of the Economy?," CERGE-EI Working Papers wp393, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
    12. Attiya Yasmin Javid & Qaisar Imad, 2012. "A Decomposition Analysis of Capital Structure: Evidence from Pakistan’s Manufacturing Sector," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 17(1), pages 1-31, Jan-June.
    13. Brian M. Lucey, QiYu Zhang* School of Business, Trinity College Dublin, Ireland, 2009. "Emerging Markets Capital Structure and Financial Integration," The Institute for International Integration Studies Discussion Paper Series iiisdp305, IIIS.
    14. Okuda, Hidenobu & Nhung, Lai Thi Phuong, 2011. "Fundraising Behaviors of Listed Companies in Vietnam: An Estimation of the Influence of Government Ownership," CEI Working Paper Series 2010-15, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    15. González, Víctor M. & González, Francisco, 2014. "Banking liberalization and firms' debt structure: International evidence," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 466-482.
    16. Krishnankutty, Raveesh & Chakraborty, Kiran Shankar, 2013. "Determinants of debt capital in Indian corporate sector: a quantile regression analysis," MPRA Paper 48307, University Library of Munich, Germany.
    17. Chakraborty, Indrani, 2010. "Capital structure in an emerging stock market: The case of India," Research in International Business and Finance, Elsevier, vol. 24(3), pages 295-314, September.
    18. Anastasiya Shamshur, 2010. "Access to Capital and Capital Structure of the Firm," CERGE-EI Working Papers wp429, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
    19. Florinita Duca, 2012. "What Determines The Capital Structure Of Listed Firms In Romania," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4, pages 523-531, September.

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