About: Access to capital and capital structure of the firm

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	The paper examines the importance of financial constraints for firm capital structure decisions in transitions economies during 1996-2006 using endogenous switching regression with unknown sample separation approach. The evidence suggests that differences in fi- nancing constraints have a signiffcant effect on a firm's capital structure. Constrained and unconstrained firms differ in capital structure determinants. Specifically, tangibility appears to be an extremely important leverage determinant for constrained firms, while macroeconomic factors (GDP and expected inflation) affect the leverage level of unconstrained firms, suggesting that those firms adjust their capital structure in response to changes in macroeconomic conditions. Moreover, financially unconstrained firms adjust their capital structures faster to the target level, which is consistent with the previous literature. The paper examines the importance of financial constraints for firm capital structure decisions in transitions economies during 1996-2006 using endogenous switching regression with unknown sample separation approach. The evidence suggests that differences in fi- nancing constraints have a signiffcant effect on a firm's capital structure. Constrained and unconstrained firms differ in capital structure determinants. Specifically, tangibility appears to be an extremely important leverage determinant for constrained firms, while macroeconomic factors (GDP and expected inflation) affect the leverage level of unconstrained firms, suggesting that those firms adjust their capital structure in response to changes in macroeconomic conditions. Moreover, financially unconstrained firms adjust their capital structures faster to the target level, which is consistent with the previous literature. (en)
Title	Access to capital and capital structure of the firm Access to capital and capital structure of the firm (en)
skos:prefLabel	Access to capital and capital structure of the firm Access to capital and capital structure of the firm (en)
skos:notation	RIV/00216208:11640/10:00346953!RIV11-GA0-11640___
http://linked.open...avai/riv/aktivita	P S Z
http://linked.open...avai/riv/aktivity	P(GA402/09/1595), P(LC542), S, Z(MSM0021620846)
http://linked.open...iv/cisloPeriodika	429
http://linked.open...vai/riv/dodaniDat	2011
http://linked.open...aciTvurceVysledku	Shamshur, Anastasiya
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Univerzita Karlova v Praze / Centrum pro ekonomický výzkum a doktorská studia
http://linked.open...dnocenehoVysledku	245171
http://linked.open...ai/riv/idVysledku	RIV/00216208:11640/10:00346953
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	capital structure; financing decisions; credit constraints; Eastern Europe (en)
http://linked.open.../riv/klicoveSlovo	Eastern Europe capital structure financing decisions credit constraints
http://linked.open...odStatuVydavatele	CZ - Česká republika
http://linked.open...ontrolniKodProRIV	[C2C4EDE40675]
http://linked.open...i/riv/nazevZdroje	CERGE-EI Working Paper Series
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...vavai/riv/projekt	Center of Advanced Political Economy Research Corporate performance, behavior and ownership structures in the Czech firms: Theoretical modeling and empirical assessment
http://linked.open...UplatneniVysledku	2010
http://linked.open...v/svazekPeriodika	-
http://linked.open...iv/tvurceVysledku	Shamshur, Anastasiya
http://linked.open...n/vavai/riv/zamer	Ekonomické dopady evropské integrace na ČR
issn	1211-3298
number of pages	36 (xsd:int)
http://localhost/t...ganizacniJednotka	11640

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