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Determinants of the leasing decision in United Kingdom listed companies

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  • Mike Adams
  • Philip Hardwick
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    Abstract

    The study tests empirically whether the leasing decision of United Kingdom companies is determined by four company-specific characteristics. The findings suggest that there is a positive relationship between the propensity to lease and both leverage and ownership structure. The study offers only limited support for the view that the propensity to lease is likely to fall as company size increases, and provides no support for the hypothesis that companies with more growth options in their investment opportunity sets will be more likely to lease than companies with more assets-in-place.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/096031098332781
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Financial Economics.

    Volume (Year): 8 (1998)
    Issue (Month): 5 ()
    Pages: 487-494

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    Handle: RePEc:taf:apfiec:v:8:y:1998:i:5:p:487-494

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    Web page: http://www.tandfonline.com/RAFE20

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    1. repec:ami:journl:v:10:y:2011:i:2:p:275-294 is not listed on IDEAS
    2. Antonello Callimaci & Anne Fortin & Suzanne Landry, 2011. "Determinants of leasing propensity in Canadian listed companies," International Journal of Managerial Finance, Emerald Group Publishing, vol. 7(3), pages 259-283, June.
    3. Bierlen, Ralph W. & Parsch, Lucas D. & Dixon, Bruce L., 1999. "How Cropland Contract Type And Term Decisions Are Made: Evidence From An Arkansas Tenant Survey," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 2(01).
    4. Doris Neuberger & Solvig R�thke-D�ppner, 2013. "Leasing by small enterprises," Applied Financial Economics, Taylor & Francis Journals, vol. 23(7), pages 535-549, April.
    5. Neuberger, Doris & Räthke-Döppner, Solvig, 2012. "Leasing by small enterprises," Thuenen-Series of Applied Economic Theory 122, University of Rostock, Institute of Economics.
    6. Marie Christine Deghaye-Filareto & Eric Severin, 2007. "Determinants of the choice leasing vs Bank Loan: evidence from the french sme by Kacm," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00204911, HAL.
    7. Landry, Suzanne & Fortin, Anne & Callimaci, Antonello, 2013. "Family firms and the lease decision," Journal of Family Business Strategy, Elsevier, vol. 4(3), pages 176-187.

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