Sources of capital structure : evidence from transition countries
AbstractThis study explores the significance of firm-specific, country institutional and macroeconomic factors in explaining the leverage variation of a sample of firms from nine Eastern European countries. Countryspecific factors are the most prominent determinants of leverage variation for small unlisted companies while firm-specific factors explain most of the leverage variation in listed and large unlisted companies. Half of the leverage variation related to country factors is explained by known macroeconomic and institutional factors while the other half by unquantifiable institutional differences
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Bibliographic InfoPaper provided by Bank of Estonia in its series Bank of Estonia Working Papers with number 2006-02.
Length: 22 pages
Date of creation: 10 Oct 2006
Date of revision: 12 Nov 2006
Publication status: published
Postal: Estonia bld. 13, 15095 Tallinn, ESTONIA
Other versions of this item:
- Karin Joeveer, 2006. "Sources of Capital Structure: Evidence from Transition Countries," CERGE-EI Working Papers wp306, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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