Journal ArticleDOI
How does internationalization affect capital raising decisions? Evidence from UK firms
TLDR
The authors found that multinational companies use similar or lower leverage than domestic firms and are more likely to raise new equity capital than new debt, while internationalization leads to the use of more expensive capital from the domestic market at a cost to shareholders.About:
This article is published in Journal of Multinational Financial Management.The article was published on 2020-12-01. It has received 9 citations till now. The article focuses on the topics: Debt capital & Capital structure.read more
Citations
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Capital structure and regulation: do ownership and regulatory independence matter?
TL;DR: In this paper, the effect of ownership structure and regulatory independence on the interaction between capital structure and regulated prices using a comprehensive panel data of publicly traded European utilities was studied, and the authors found that firms in their sample tend to have a higher leverage if they are privately controlled and regulated by an independent regulatory agency.
Journal ArticleDOI
Multinationality and capital structure dynamics: A corporate governance explanation
TL;DR: In this article, the authors examined the impact of corporate governance on capital structure dynamics using ordinary least squares regressions on 17,496 firm-year observations for 2,294 US multinational companies over the period 1990-2018.
Journal ArticleDOI
Exploring nonlinear linkage between profitability and leverage: US multinational versus domestic corporations
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Top management team heterogeneity, corporate social responsibility and firm risk: an emerging country perspective
TL;DR: In this paper, the authors examined the effects of top management team heterogeneity and corporate social responsibility (CSR) on the firm risk of Bursa Malaysia listed firms and found negative effects of CSR on total and idiosyncratic risks.
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How Particular Firm-Specific Features Influence Corporate Debt Level: A Case Study of Slovak Enterprises
TL;DR: In this paper , a more elaborate analysis addressing statistically relevant dissimilarities between separate indebtedness ratios in relation to the size of the company and its legal form was carried out by deploying the nonparametric Kruskal-Wallis test.
References
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Book
Econometric Analysis of Cross Section and Panel Data
TL;DR: This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001).
Posted Content
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
TL;DR: In this paper, the benefits of debt in reducing agency costs of free cash flows, how debt can substitute for dividends, why diversification programs are more likely to generate losses than takeovers or expansion in the same line of business or liquidationmotivated takeovers, and why the factors generating takeover activity in such diverse activities as broadcasting and tobacco are similar to those in oil.
Posted Content
What Do We Know About Capital Structure? Some Evidence from International Data
Raghuram G. Rajan,Raghuram G. Rajan,Raghuram G. Rajan,Luigi Zingales,Luigi Zingales,Luigi Zingales +5 more
TL;DR: In this paper, the authors investigate the determinants of capital structure choice by analyzing the financing decisions of public firms in the major industrialized countries and find that factors identified by previous studies as important in determining the cross-section of the capital structure in the U.S. affect firm leverage in other countries as well.
Journal ArticleDOI
What Do We Know about Capital Structure? Some Evidence from International Data
Raghuram G. Rajan,Luigi Zingales +1 more
TL;DR: In this paper, the authors investigate the determinants of capital structure choice by analyzing the financing decisions of public firms in the major industrialized countries and find that factors identified by previous studies as correlated in the cross-section with firm leverage in the United States, are similarly correlated in other countries as well.
Journal ArticleDOI
The theory and practice of corporate finance: Evidence from the field
TL;DR: The authors survey 392 CFOs about the cost of capital, capital budgeting, and capital structure and find some support for the pecking-order and trade-off capital structure hypotheses but little evidence that executives are concerned about asset substitution, asymmetric information, transactions costs, free cash flows, or personal taxes.