Corporate Finance in Europe: Confronting Theory with Practice

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Is Size Dead? A Review of the Size Effect in Equity Returns (2011, unknown): “Chan et al. (1985) find evidence that the default spread and other variables that pick up changes in the economic environment capture the size effect in Fama–MacBeth regressions. Chan and Chen (1991) argue that small firms are generally ‘‘fallen angels’’ that have lost market value due to bad perfor”
Improved capital budgeting decision making: evidence from Canada (2010, background): “Previous empirical literature found that a relatively small number of firms employed real options (Block, 2007; Brounen et al., 2004; Graham and Harvey, 2001; Ryan and Ryan, 2002).”
Cost-of-Capital Estimation and Capital-Budgeting Practice in Australia (2008, methodology): “A small percentage of firms used book value weights in calculating WACC, 15% in Bruner et al. (1998) and 26% in Arnold and Hatzopoulos (2000).”
Financial Flexibility, Investment Ability, and Firm Value: Evidence from Firms with Spare Debt Capacity (2010, background): “Bancel and Mittoo (2004) and Brounen et al. (2004) report similar figures for the United Kingdom.”
What determines the speed of adjustment to the target capital structure? (2006, background): “Recent survey evidence by Graham and Harvey (2001), Brounen et al. (2004) and Drobetz et al. (2006) strongly suggests that firm decision-makers seek a target debt–equity ratio.”