FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2100582004> ?p ?o ?g. }

• W2100582004 abstract "We investigate the capital structure dynamics of a panel of 766 firms from five Western Europe countries: France, Italy, UK, Germany and Switzerland over the period 1996-2007. If firms adjust their capital structure towards an optimal level with adjustment costs affecting this optimization behavior, then firms with a concentrated ownership structure should adjust their leverage at a slower rate. Indeed, large blockholders are likely to avoid control-diluting equity issuances. They may also face higher transaction costs arising from the extent of adverse selection problems they face or because of the lower liquidity of their stocks. Besides, one can expect them to avoid large upward leverage adjustments in order not to increase the risk of their undiversified portfolio. However, if firms are indifferent towards their capital structure, past timed securities issuances should have a persistent impact on their current leverage regardless of their ownership structure. Using system-GMM methodology on panel data, we find that European firms have a target leverage to which they revert at different rates. The speed of adjustment is the lowest for firms with a single large blockholder. These results extend previous literature by introducing the transaction costs and the agency costs inherent to ownership concentration as significant determinants of capital structure dynamics." @default.
• W2100582004 created "2016-06-24" @default.
• W2100582004 creator A5058025103 @default.
• W2100582004 date "2009-09-01" @default.
• W2100582004 modified "2023-10-02" @default.
• W2100582004 title "Ownership Concentration and Capital Structure Adjustments" @default.
• W2100582004 cites W1491740479 @default.
• W2100582004 cites W1523606413 @default.
• W2100582004 cites W1552003787 @default.
• W2100582004 cites W1680515423 @default.
• W2100582004 cites W1969519191 @default.
• W2100582004 cites W2017064883 @default.
• W2100582004 cites W2024623582 @default.
• W2100582004 cites W2025610165 @default.
• W2100582004 cites W2042601346 @default.
• W2100582004 cites W2071263376 @default.
• W2100582004 cites W2111558694 @default.
• W2100582004 cites W2113135807 @default.
• W2100582004 cites W2122054885 @default.
• W2100582004 cites W2144357229 @default.
• W2100582004 cites W2151458238 @default.
• W2100582004 cites W2154190302 @default.
• W2100582004 cites W2163412231 @default.
• W2100582004 cites W2342192317 @default.
• W2100582004 cites W3121693921 @default.
• W2100582004 cites W3121819860 @default.
• W2100582004 cites W3122420571 @default.
• W2100582004 cites W3122526525 @default.
• W2100582004 cites W3122550102 @default.
• W2100582004 cites W3123091495 @default.
• W2100582004 cites W3123336229 @default.
• W2100582004 cites W3124694332 @default.
• W2100582004 cites W3124747412 @default.
• W2100582004 cites W3125402871 @default.
• W2100582004 cites W3125512896 @default.
• W2100582004 cites W3125688476 @default.
• W2100582004 hasPublicationYear "2009" @default.
• W2100582004 type Work @default.
• W2100582004 sameAs 2100582004 @default.
• W2100582004 citedByCount "3" @default.
• W2100582004 countsByYear W21005820042015 @default.
• W2100582004 countsByYear W21005820042016 @default.
• W2100582004 crossrefType "posted-content" @default.
• W2100582004 hasAuthorship W2100582004A5058025103 @default.
• W2100582004 hasConcept C10138342 @default.
• W2100582004 hasConcept C119857082 @default.
• W2100582004 hasConcept C120527767 @default.
• W2100582004 hasConcept C120757647 @default.
• W2100582004 hasConcept C129361004 @default.
• W2100582004 hasConcept C144133560 @default.
• W2100582004 hasConcept C149782125 @default.
• W2100582004 hasConcept C149933338 @default.
• W2100582004 hasConcept C153083717 @default.
• W2100582004 hasConcept C162324750 @default.
• W2100582004 hasConcept C175444787 @default.
• W2100582004 hasConcept C17744445 @default.
• W2100582004 hasConcept C183582576 @default.
• W2100582004 hasConcept C199539241 @default.
• W2100582004 hasConcept C199728807 @default.
• W2100582004 hasConcept C2780821815 @default.
• W2100582004 hasConcept C29122968 @default.
• W2100582004 hasConcept C36673458 @default.
• W2100582004 hasConcept C39389867 @default.
• W2100582004 hasConcept C41008148 @default.
• W2100582004 hasConcept C556758197 @default.
• W2100582004 hasConcept C6422946 @default.
• W2100582004 hasConcept C74734477 @default.
• W2100582004 hasConcept C84566663 @default.
• W2100582004 hasConcept C98965940 @default.
• W2100582004 hasConceptScore W2100582004C10138342 @default.
• W2100582004 hasConceptScore W2100582004C119857082 @default.
• W2100582004 hasConceptScore W2100582004C120527767 @default.
• W2100582004 hasConceptScore W2100582004C120757647 @default.
• W2100582004 hasConceptScore W2100582004C129361004 @default.
• W2100582004 hasConceptScore W2100582004C144133560 @default.
• W2100582004 hasConceptScore W2100582004C149782125 @default.
• W2100582004 hasConceptScore W2100582004C149933338 @default.
• W2100582004 hasConceptScore W2100582004C153083717 @default.
• W2100582004 hasConceptScore W2100582004C162324750 @default.
• W2100582004 hasConceptScore W2100582004C175444787 @default.
• W2100582004 hasConceptScore W2100582004C17744445 @default.
• W2100582004 hasConceptScore W2100582004C183582576 @default.
• W2100582004 hasConceptScore W2100582004C199539241 @default.
• W2100582004 hasConceptScore W2100582004C199728807 @default.
• W2100582004 hasConceptScore W2100582004C2780821815 @default.
• W2100582004 hasConceptScore W2100582004C29122968 @default.
• W2100582004 hasConceptScore W2100582004C36673458 @default.
• W2100582004 hasConceptScore W2100582004C39389867 @default.
• W2100582004 hasConceptScore W2100582004C41008148 @default.
• W2100582004 hasConceptScore W2100582004C556758197 @default.
• W2100582004 hasConceptScore W2100582004C6422946 @default.
• W2100582004 hasConceptScore W2100582004C74734477 @default.
• W2100582004 hasConceptScore W2100582004C84566663 @default.
• W2100582004 hasConceptScore W2100582004C98965940 @default.
• W2100582004 hasLocation W21005820041 @default.
• W2100582004 hasOpenAccess W2100582004 @default.
• W2100582004 hasPrimaryLocation W21005820041 @default.
• W2100582004 hasRelatedWork W1971417708 @default.
• W2100582004 hasRelatedWork W2048421148 @default.
• W2100582004 hasRelatedWork W2137293375 @default.

• next