Tools
ToolsHartwell, C. A. and Malinowska, A., 2018. Firm-Level and Institutional Determinants of Corporate Capital Structure in Poland. Finance a Uver: Czech Journal of Economics and Finance, 68 (2), 120 - 143.
Full text available as:
|
PDF
1404_hartwell FINAL PUBLISHED.pdf - Published Version Available under License Creative Commons Attribution. 526kB | |
|
Copyright to original material in this document is with the original owner(s). Access to this content through BURO is granted on condition that you use it only for research, scholarly or other non-commercial purposes. If you wish to use it for any other purposes, you must contact BU via BURO@bournemouth.ac.uk. Any third party copyright material in this document remains the property of its respective owner(s). BU grants no licence for further use of that third party material. |
Official URL: http://journal.fsv.cuni.cz/mag/article/show/id/140...
Abstract
This paper discusses how well major capital structure theories incorporate firm-level and institutional factors into short-term firm financing decisions in a specific context, that of a transition economy. Using a new dataset of non-financial companies quoted on the Warsaw Stock Exchange between 2007-2015, we argue that neither the trade-off nor the pecking order theories fully explain corporate debt policies in Poland. The results of dynamic panel data modelling highlight the importance of the strength of property rights and stock market capitalisation as driving forces behind corporate financing decisions.
| Item Type: | Article |
|---|---|
| ISSN: | 0015-1920 |
| Uncontrolled Keywords: | capital structure, pecking order theory, trade-off theory, institutions, transition economies |
| Group: | Bournemouth University Business School |
| ID Code: | 30608 |
| Deposited By: | Symplectic RT2 |
| Deposited On: | 26 Apr 2018 13:48 |
| Last Modified: | 14 Mar 2022 14:10 |
Downloads
Downloads per month over past year
| Repository Staff Only - |