English, Article, Journal or magazine article edition: The Effects of Short-Term Liabilities on Profitability: The Case of Germany Dorothea Schaefer; Christopher F. Baum; Dorothea Schäfer; ...

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Bookmark: http://trove.nla.gov.au/version/34458
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Effects of Short-Term Liabilities on Profitability : The Case of Germany
Author
  • Dorothea Schaefer
  • Christopher F. Baum
  • Dorothea Schäfer
  • Oleksandr Talavera
Physical Description
  • preprint
Notes
  • RePEc:mmf:mmfc06:61
  • Using data from Germany this paper examines the direct effect of non-financial firms' use of short-term versus long-term liabilities. We develop a structural model of a firm's value maximization problem that predicts that profitability of the firm will change if firms alter their use of short-term versus long-term liabilities. We find that firms that rely more heavily on short-term liabilities are likely to be more profitable.
  • profitability, short-term liabilities, maturity structure, capital structure
  • RePEc:diw:diwwpp:dp635
Language
  • English
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