The Effects of Diversification Strategies on Capital Structure: An Empirical Study on European Companies - Softcover
Synopsis
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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About the Author
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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Taschenbuch. Condition: 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. Seller Inventory # 9783844322286
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The Effects of Diversification Strategies on Capital Structure
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ISBN 13: 9783844322286
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Condition: 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. Seller Inventory # 5472662
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The Effects of Diversification Strategies on Capital Structure
Published by
LAP LAMBERT Academic Publishing Apr 2011, 2011
ISBN 10: 3844322280
ISBN 13: 9783844322286
New
Taschenbuch
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Taschenbuch. Condition: 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. Seller Inventory # 9783844322286
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The Effects of Diversification Strategies on Capital Structure : An Empirical Study on European Companies
Published by
LAP LAMBERT Academic Publishing, 2011
ISBN 10: 3844322280
ISBN 13: 9783844322286
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Taschenbuch. Condition: 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. Seller Inventory # 9783844322286
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The Effects of Diversification Strategies on Capital Structure | An Empirical Study on European Companies
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ISBN 10: 3844322280
ISBN 13: 9783844322286
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Taschenbuch. Condition: Neu. The Effects of Diversification Strategies on Capital Structure | An Empirical Study on European Companies | Andreea Apostu | Taschenbuch | 80 S. | Englisch | 2011 | LAP LAMBERT Academic Publishing | EAN 9783844322286 | Verantwortliche Person für die EU: BoD - Books on Demand, In de Tarpen 42, 22848 Norderstedt, info[at]bod[dot]de | Anbieter: preigu. Seller Inventory # 107021672