Determinants of the Capital Structures of European SMEs

By G. Hall, P. Hutchinson, N. Michaelas. 2004

582 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/18440c29dc26b98c7d6f6a5800fc125976ee5ef6

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Citations in the corpus

Do country or firm factors explain capital structure? Evidence from SMEs in France and Greece (2008, background): “For example, Hall et al. (2004) and Sogorb-Mira (2005) find a negative relationship between short term debt and asset structure and a positive relationship differentiate between long-term debt and asset structure.”
A two-part fractional regression model for the financial leverage decisions of micro, small, medium and large firms (2009, background): “Interestingly, the only group where TANGIB does not significantly affect the probability of firms raising debt is that of micro firms, maybe because the most important source of collateral for micro firms is certainly the private collateral provided by their owners (see inter alia Hall et al. 2004).”
Determinants of capital structure in Irish SMEs (2010, methodology): “…is to test hypotheses formulated from capital structure theories by testing static multivariate regression models on panel data (e.g. Michaelas et al. 1999; Chittenden et al. 1996; Hall et al. 2004; Sogorb Mira 2005; Esperanca et al. 2003; Fu et al. 2002; Cassar & Holmes 2003; Heyman et al. 2008).”
Capital Structure Around the World: The Roles of Firm- and Country-Specific Determinants (2007, unknown): “Similarly, Hall et al. (2004) analyze a large sample of unlisted firms from eight European countries.”
Determinants of the Capital Structure of Ghanaian Firms (2008, background): “Growth is likely to place a greater demand on internally generated funds and push the firm into borrowing (Hall et al., 2004).”
A conceptual framework for identifying financing preferences of SMEs (2015, background): “It justifies the positive relationship between long-term debt and asset structure (Abor & Biekpe, 2009; Benkraiem & Gurau, 2013; Hall et al., 2004; Michaelas et al., 1999; Odit & Gobardhan, 2011; Sogorb-Mira, 2005; Zhang, 2010; Hall et al., 2000).”
Trade-Off Theory versus Pecking Order Theory: capital structure decisions in a peripheral region of Portugal (2014, background): “Hall et al. (2004) and SogorbMira (2005) find a negative relationship between asset tangibility and short-term debt.”
The impact of firm and industry characteristics on small firms’ capital structure (2010, background): “This is in contrast to Hall et al. (2004) The following firm characteristics enter as determinants of capital structure: firm size, tangible fixed assets, net debtors, profitability, intangible assets, asset growth, effective corporate tax rate and depreciation.”
Are the determinants of capital structure country or firm specific? (2009, unknown): “Our findings are in line with Harris and Raviv (1991), Rajan and Zingales (1995), Booth et al. (2001), Gaud et al. (2005), and Ozkan (2001) for large companies and Van der Wijst and Thurik (1993), Hall et al. (2004), and Sogorb-Mira 2005 for SMEs.”