English, Article edition: CAPITAL STRUCTURE OF LISTED COMPANIES IN VISEGRAD COUNTRIES Patrik Bauer

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Bookmark: http://trove.nla.gov.au/version/197596
Physical Description
  • article
Language
  • English

Edition details

Title
  • CAPITAL STRUCTURE OF LISTED COMPANIES IN VISEGRAD COUNTRIES
Author
  • Patrik Bauer
Physical Description
  • article
Notes
  • Visegrad countries, leverage, determinants of capital structure, capital structure
  • RePEc:prg:jnlpep:v:2004:y:2004:i:2:id:237:p:159-175
  • This paper analyzes capital structure of listed companies in Visegrad countries during the period from 2000 to 2001. The results are based on the database, which assembles financial reports of listed firms. In general, leverage of these firms is relatively low if measured in book value, but it is relatively high if assessed in market value. Quasi-maximum likelihood estimation is used in order to investigate the determinants of capital structure. According to the results, leverage of a company is positively correlated with size and it is negatively correlated with profitability, tangibility and non-debt tax shields. There is a negative relationship between leverage measured in market value and growth opportunities. Moreover, leverage decreases with volatility, albeit on a lower level of statistical significance.
  • capital structure, determinants of capital structure, leverage, Visegrad countries
Language
  • English
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