How does the firm size affect the relative importance of country and industry effect in capital structure? Empirical evidence from Europe

Julia Koralun-Bereźnicka

Abstract

The purpose of this study is to determine the relative importance of the country and industry factors in the capital structure depending on the firm size. The analysis includes three size groups of firms in thirteen industries of nine EU countries and covers the period 2000-2009. The applied methods include multivariate statistical analysis, mainly the k-means cluster analysis. Findings reveal the prevalence of the country factors, although not homogeneously across all size groups.
Author Julia Koralun-Bereźnicka KFP
Julia Koralun-Bereźnicka,,
- Department of Corporate Finance
Journal seriesArgumenta Oeconomica, ISSN 1233-5835
Issue year2017
No1 (38)
Pages99-119
Publication size in sheets1
Keywords in Englishcapital structure, country effect, industry effect, firm size
DOIDOI:10.15611/aoe.2017.1.04
URL http://www.dbc.wroc.pl/Content/36704/Koralun-Bereznicka_How_Does_The_Firm_Size_Affect_2017.pdf
Languagepl polski
Score (nominal)15
ScoreMinisterial score = 15.0, 20-12-2017, ArticleFromJournal
Ministerial score (2013-2016) = 15.0, 20-12-2017, ArticleFromJournal
Publication indicators WoS Impact Factor: 2016 = 0.108 (2) - 2016=0.235 (5)
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* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.
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