Hierarchical determinants of capital structure

We analyze the influence of time-, firm-, industry- and country-level determinants of capital structure. First, we apply hierarchical linear modeling in order to assess the relative importance of those levels. We find that time and firm levels explain 78% of firm leverage. Second, we include random...

Full description

Saved in:
Bibliographic Details
Published in:Journal of banking & finance 2011-02, Vol.35 (2), p.358-371
Main Authors: Kayo, Eduardo K., Kimura, Herbert
Format: Article
Language:English
Subjects:
Capital structure
Capital structure Hierarchical analysis Firm-level determinants Industry-level determinants Country-level determinants
Coefficients
Country-level determinants
Developed countries
Developing countries
Firm-level determinants
Hierarchical analysis
Hierarchies
Industry-level determinants
Kapitalstrukturtheorie
Leverage
Linear analysis
Linear models
Mathematical models
Structural analysis
Structural economics
Studies
Temporal determinants
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!