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The Effects of Diversification Strategies on Capital Structure: An Empirical Study on European Companies - Brossura
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The role of diversification strategies in financial choices has received little attention in previous empirical financial studies. The aim of this paper is to study the effect of corporate diversification strategies on firm capital structure using a panel data analysis for a sample of 232 European firms during the period 2004-2007. Theoretical and empirical studies suggest that corporate leverage is positively related to diversification across product lines but negatively related to geographic diversification. Some studies show that these diversification strategies are complementary in generating debt usage. This paper estimates two alternative models employed by previous empirical work in the study of capital structure determinants: static trade-off model and a dynamic target adjustment model. After controlling for firm size, profitability, growth, assets tangibility and operating risk, the study finds that product and geographical diversification do not have a significant influence on leverage.
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BSc. in Finance and Banking from the Academy of Economic Studies in Bucharest and MSc. in Finance and International Business from Aarhus School of Business.
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The Effects of Diversification Strategies on Capital Structure
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LAP LAMBERT Academic Publishing Apr 2011, 2011
ISBN 10: 3844322280
ISBN 13: 9783844322286
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Da: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germania
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Taschenbuch. Condizione: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -The role of diversification strategies in financial choices has received little attention in previous empirical financial studies. The aim of this paper is to study the effect of corporate diversification strategies on firm capital structure using a panel data analysis for a sample of 232 European firms during the period 2004-2007. Theoretical and empirical studies suggest that corporate leverage is positively related to diversification across product lines but negatively related to geographic diversification. Some studies show that these diversification strategies are complementary in generating debt usage. This paper estimates two alternative models employed by previous empirical work in the study of capital structure determinants: static trade-off model and a dynamic target adjustment model. After controlling for firm size, profitability, growth, assets tangibility and operating risk, the study finds that product and geographical diversification do not have a significant influence on leverage. 80 pp. Englisch. Codice articolo 9783844322286
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The Effects of Diversification Strategies on Capital Structure
Editore:
LAP LAMBERT Academic Publishing, 2011
ISBN 10: 3844322280
ISBN 13: 9783844322286
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Brossura
Da: moluna, Greven, Germania
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Condizione: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Autor/Autorin: Apostu AndreeaBSc. in Finance and Banking from the Academy of Economic Studies in Bucharest and MSc. in Finance and International Business from Aarhus School of Business.The role of diversification strategies in financial choic. Codice articolo 5472662
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The Effects of Diversification Strategies on Capital Structure
Editore:
LAP LAMBERT Academic Publishing Apr 2011, 2011
ISBN 10: 3844322280
ISBN 13: 9783844322286
Nuovo
Taschenbuch
Da: buchversandmimpf2000, Emtmannsberg, BAYE, Germania
Valutazione del venditore 5 su 5 stelle
Taschenbuch. Condizione: Neu. Neuware -The role of diversification strategies in financial choices has received little attention in previous empirical financial studies. The aim of this paper is to study the effect of corporate diversification strategies on firm capital structure using a panel data analysis for a sample of 232 European firms during the period 2004-2007. Theoretical and empirical studies suggest that corporate leverage is positively related to diversification across product lines but negatively related to geographic diversification. Some studies show that these diversification strategies are complementary in generating debt usage. This paper estimates two alternative models employed by previous empirical work in the study of capital structure determinants: static trade-off model and a dynamic target adjustment model. After controlling for firm size, profitability, growth, assets tangibility and operating risk, the study finds that product and geographical diversification do not have a significant influence on leverage.Books on Demand GmbH, Überseering 33, 22297 Hamburg 80 pp. Englisch. Codice articolo 9783844322286
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Immagini fornite dal venditore
The Effects of Diversification Strategies on Capital Structure : An Empirical Study on European Companies
Editore:
LAP LAMBERT Academic Publishing, 2011
ISBN 10: 3844322280
ISBN 13: 9783844322286
Nuovo
Taschenbuch
Da: AHA-BUCH GmbH, Einbeck, Germania
Valutazione del venditore 5 su 5 stelle
Taschenbuch. Condizione: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - The role of diversification strategies in financial choices has received little attention in previous empirical financial studies. The aim of this paper is to study the effect of corporate diversification strategies on firm capital structure using a panel data analysis for a sample of 232 European firms during the period 2004-2007. Theoretical and empirical studies suggest that corporate leverage is positively related to diversification across product lines but negatively related to geographic diversification. Some studies show that these diversification strategies are complementary in generating debt usage. This paper estimates two alternative models employed by previous empirical work in the study of capital structure determinants: static trade-off model and a dynamic target adjustment model. After controlling for firm size, profitability, growth, assets tangibility and operating risk, the study finds that product and geographical diversification do not have a significant influence on leverage. Codice articolo 9783844322286
Quantità: 1 disponibili