Capital Structure Dynamics in UK and Continental Europe

Wanzenried, Gabrielle (September 2002). Capital Structure Dynamics in UK and Continental Europe (Diskussionsschriften 02-09). Bern: Universität Bern Volkswirtschaftliches Institut

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This paper analyzes capital structure determinants of UK and continental European firms. Besides considering firmspecific characteristics, it investigates the impact of different corporate governance related institution- and marketspecific aspects on the capital structure choice. The dynamic framework allows to analyze short- and longterm adjustments and to relate them to firm- and systemspecific characteristics. Our data contain balance sheet and profit&loss account data of 167 European firms from 1988 to 1998. From our panel data regressions we find significant differences in the capital structure choice between the firms of the considered corporate governance systems.

Item Type:

Working Paper

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Economics > Institute of Economics

Subjects:

300 Social sciences, sociology & anthropology > 330 Economics

Series:

Diskussionsschriften

Publisher:

Universität Bern Volkswirtschaftliches Institut

Language:

English

Submitter:

Aline Lehnherr

Date Deposited:

23 Apr 2020 10:53

Last Modified:

06 Aug 2020 14:18

JEL Classification:

G32, C23, D21

BORIS DOI:

10.7892/boris.142923

URI:

https://boris.unibe.ch/id/eprint/142923

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