The Determinants of Leverage: A Comparative Analysis
Journal of Economics and Management, 18
Posted: 15 Jan 2015
Date Written: October 22, 2014
Abstract
This paper develops an analysis of the determinants of leverage in European listed companies in the last decade. To test the impact of firm characteristics on the capital structure, we use panel data of companies located in 7 countries (Austria, Czech Republic, Germany, Hungary, Italy, Poland, and Slovakia) from 2001 to 2012. Results show that several firm characteristics, such as size, profitability, and the tangibility of assets are able to influence the capital structure and overall confirm the theories developed by the literature.
Suggested Citation: Suggested Citation
Anderloni, Luisa and Tanda, Alessandra, The Determinants of Leverage: A Comparative Analysis (October 22, 2014). Journal of Economics and Management, 18, Available at SSRN: https://ssrn.com/abstract=2547575
Do you have a job opening that you would like to promote on SSRN?
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.