1,200
Views
0
CrossRef citations to date
0
Altmetric
Research Article

The impact of the global financial crisis and the European sovereign debt crisis on the capital structure of firms in Europe: do SMEs, and listed firms respond the same?

&
Pages 889-913 | Received 10 Sep 2022, Accepted 25 Jul 2023, Published online: 05 Sep 2023

Figures & data

Table 1. Summary statistics.

Figure 1. Trends in the total debt to total assets (by size).

Figure 1. Trends in the total debt to total assets (by size).

Figure 2. Evolution of Total debt to total assets.

Figure 2. Evolution of Total debt to total assets.

Figure 3. Evolution of debt maturity.

Figure 3. Evolution of debt maturity.

Table 2. Summary statistics by industry.

Table 3. Total debt to total assets.

Table 4. Long term debt to total assets.

Table 5. Long term debt to total debt.

Table 6. Impact of crisis on SME and Large firms.

Table 7. Impact of crisis on listed companies and non-listed companies.

Table 8. Impact of country characteristics capital structure of SMEs relative to large firms across different industries during the global financial crisis and European debt crisis (Total financial debt to total assets).

Table 9. Impact of country on characteristics capital structure of SMEs relative to large firms across different industries during the global financial crisis and European debt crisis (Long term debt to total assets).

Table 10. Differential impact of the global financial crisis and the European debt crisis on the long-term debt to total debt ratios of SMEs relative to large firms in countries with different country characteristics (Debt Maturity).

Table 12. Dynamic adjustment of leverage across industries.

Supplemental material

Supplemental Material

Download MS Word (100.5 KB)