250
Views
15
CrossRef citations to date
0
Altmetric
Original Articles

The financial structure of nonlisted firms

&
Pages 559-568 | Published online: 25 Mar 2008

References

  • Alam , P and Walton , K . 1995 . Information asymmetry and valuation effects of debt financing . Financial Review , 30 : 289 – 311 .
  • Alonso , P , Iturriaga , F and Sanz , J . 2005 . Financial decisions and growth opportunities: a Spanish firm's panel data analysis . Applied Financial Economics , 15 : 391 – 407 .
  • Barclay , M and Smith , C . 1995 . The maturity structure of corporate debt . Journal of Finance , 50 : 609 – 31 .
  • Barnea , A , Haugen , R and Senbet , L . 1980 . A rationale for debt maturity structure and call provisions in the agency theoretic framework . Journal of Finance , 35 : 1223 – 34 .
  • Baxter , ND . 1967 . Leverage, the Risk of Ruin and the Cost of Capital . Journal of Finance , 22 : 395 – 403 .
  • Bevan , A and Danbolt , J . 2002 . Capital structure and its determinants in the UK–Decompositional analysis . Applied Financial Economics , 12 : 159 – 70 .
  • Bøhren , Ø and Michalsen , D . 2001 . Finansiell Økonomi: Teori og Praksis . Financial economics: theory and practise), Skarvet Forlag, Gjøvik ,
  • Brick , I and Ravid , A . 1985 . On the relevance of debt maturity structure . Journal of Finance , 40 : 1423 – 37 .
  • Carlsen , F and Nilsen , Ø . 1993 . En empirisk analyse av norske bedrifters gjeldsandel (An empirical analysis of Norwegian firm's debt) . Scandinavian Journal of Business Beta , 2 : 1 – 3 .
  • Chirinko , R and Singha , A . 2000 . Testing static trade-off against pecking order models of capital structure: a critical comment . Journal of Financial Economics , 58 : 417 – 25 .
  • DeAngelo , H and Masulis , R . 1980 . Optimal capital structure under corporate and personal taxation . Journal of Financial Economics , 8 : 3 – 29 .
  • Demirgüç-Kunt , A and Maksimovic , V . 1999 . Institutions, financial markets and firm debt maturity . Journal of Financial Economics , 54 : 295 – 336 .
  • Flannery , M . 1986 . Asymmetric information and risky debt maturity choice . Journal of Finance , 41 : 19 – 37 .
  • Gordon , M . 1971 . Towards a theory of financial distress . Journal of Finance , 26 : 347 – 56 .
  • Ghosh , A and Cai , F . 1999 . Capital structure: new evidence of optimality and pecking order theory . American Business Review , 17 : 32 – 8 .
  • Griner , E and Gordon , L . 1995 . Internal cash flow, insider ownership and capital expenditures: a test of the pecking order theory and managerial hypothesis . Journal of Business Finance and Accounting , 22 : 179 – 98 .
  • Guedes , J and Opler , T . 1996 . The determinants of the maturity of corporate debt issues . Journal of Finance , 51 : 1809 – 33 .
  • Harris , M and Raviv , A . 1991 . The theory of capital structure . Journal of Finance , 46 : 297 – 355 .
  • Jensen , M . 1986 . Agency costs of free cash flow, corporate finance and takeovers . American Economic Review , 76 : 323 – 9 .
  • Jensen , M and Meckling , W . 1976 . Theory of the firm: managerial behaviour, agency costs and ownership structure . Journal of Financial Economics , 3 : 305 – 60 .
  • Jun , S and Jen , F . 2003 . Trade-off model of debt maturity structure . Review of Quantitative Finance and Accounting , 20 : 5 – 35 .
  • Kim , E . 1978 . A mean-variance theory of optimal capital structure and corporate debt capacity . Journal of Finance , 23 : 45 – 63 .
  • Kim , C , Mauer , D and Stohs , M . 1995 . Corporate debt maturity policy and investor tax-timing options: theory and evidence . Financial Management , 24 : 33 – 45 .
  • Kraus , A and Litzenberger , R . 1973 . State preference model of optimal leverage . Journal of Finance , 28 : 911 – 22 .
  • Menéndez-Alonso , E . 2003 . Does diversification strategy matter in explaining capital structure? some evidence from Spain . Applied Financial Economics , 13 : 427 – 30 .
  • Mikkelson , W . 1984 . On the existence of an optimal capital structure: theory and evidence: discussion . Journal of Finance , 39 : 878 – 80 .
  • Mitchell , K . 1993 . The debt maturity choice: An empirical investigation . Journal of Financial Research , 16 : 309 – 20 .
  • Modigliani , F and Miller , M . 1958 . The cost of capital, corporation finance and the theory of investment . American Economic Review , 48 : 261 – 97 .
  • Modigliani , F and Miller , M . 1963 . Corporate income taxes and the cost of capital: a correction . American Economic Review , 53 : 433 – 43 .
  • Myers , S . 1977 . Determinants of corporate borrowing . Journal of Financial Economics , 5 : 147 – 75 .
  • Myers , S . 1984 . The capital structure puzzle . Journal of Finance , 39 : 575 – 92 .
  • Myers , S and Majluf , N . 1984 . Corporate financing and investment decisions when firms have information that investors do not have . Journal of Financial Economics , 13 : 187 – 221 .
  • Naceur , S and Goaied , M . 2002 . The relationship between dividend policy, financial structure, profitability and firm value . Applied Financial Economics , 12 : 843 – 9 .
  • Newberry , K and Novack , G . 1999 . The effect of taxes on corporate debt maturity decisions: an analysis of public and private bond offerings . Journal of the American Taxation Association , 21 : 1 – 6 .
  • Ozkan , A . 2002 . The determinants of corporate debt maturity: evidence from UK firms . Applied Financial Economics , 12 : 19 – 24 .
  • Panno , A . 2003 . An empirical investigation on the determinants of capital structure: the UK and Italian experience . Applied Financial Economics , 13 : 97 – 112 .
  • Rajan , R and Zingales , L . 1995 . What do we know about capital structure? Some evidence from international data . Journal of Finance , 50 : 1421 – 60 .
  • Ravid , A . 1996 . Debt maturity – a survey, financial Markets . Institutions and Instruments , 5 : 1 – 69 .
  • Scherr , F and Hulburt , H . 2001 . The debt maturity structure of small firms . Financial Management , 30 : 85 – 111 .
  • Scott , J . 1976 . A theory of optimal capital structure . Bell Journal of Economics , 7 : 33 – 54 .
  • Scott , J . 1977 . Bankruptcy, secured debt and optimal capital structure . Journal of Finance , 32 : 1 – 9 .
  • Scott , J . 1981 . The probability of bankruptcy, a comparison of empirical predictions and theoretical models . Journal of Banking and Finance , 5 : 317 – 44 .
  • Shyam-Sunder , L and Myers , S . 1999 . Testing static trade-off against pecking order models of capital structure . Journal of Financial Economics , 51 : 219 – 44 .
  • Stohs , M and Mauer , D . 1996 . The determinants of corporate debt maturity structure . Journal of Business , 69 : 279 – 312 .
  • Titman , S and Wessels , R . 1988 . The determinants of capital structure choice . Journal of Finance , 43 : 1 – 9 .
  • Tong , G and Green , C . 2005 . Pecking order or trade-off hypothesis? Evidence on the capital structure of Chinese companies . Applied Economics , 37 : 2179 – 89 .
  • Van der Wijst , N and Thurik , R . 1993 . Determinants of small firm debt ratios: an analysis of retail panel data . Small Business Economics , 5 : 55 – 65 .
  • Vinso , J . 1979 . A determination of the risk of ruin . Journal of Financial and Quantitative Analysis , 14 : 77 – 100 .
  • Voulgaris , F , Asteriou , D and Agiomirgianakis , G . 2002 . Capital structure, as-set utilization, profitability and growth in the Greek manufacturing sector . Applied Economics , 34 : 1379 – 88 .
  • Wald , J . 1999 . How firm characteristics affect capital structure: an international comparison . Journal of Financial Research , 22 : 161 – 87 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.