Determinants of Capital Structure and Adjustment to Long Run Target: Evidence From UK Company Panel Data

By Aydin Ozkan. 2001

925 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/2d6789945e465f81dfb1c8e96b72cf9d38fd0a16

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Citations in the corpus

The Impacts of Free Cash Flows and Agency Costs on Firm Performance (2010, background): “Operating Performance Return on asset (ROA) and return on equity (ROE) are the most commonly adopted measures for corporate operating performance [29-32].”
Trade Credit, Bank Credit, and Flight to Quality: Evidence from French SMEs (2015, background): “See Petersen and Rajan (1997) and Demirguc-Kunt and Maksimovic (2001) for a review of the literature on”
Capital structure, equity ownership and firm performance (2010, background): “This variable may be considered as an indicator of future growth opportunities (see Titman and Wessels, 1988; Michaelas et al., 1999; Ozkan, 2001).”
Determinants of the Capital Structures of European SMEs (2004, neutral): “The year involved (1995) was the same for all countries and corresponds to the period reported for several, complementary studies recently published in this journal (Jordan et al., 1998; Ozkan, 2001; and Watson and Wilson, 2002).”
Are the determinants of capital structure country or firm specific? (2009, positive): “Our findings are in line with those of Titman and Wessels (1988), Ozkan (2001), Gaud et al. (2005), and Sogorb-Mira (2005) who report results which are consistent with the notion that larger firms have higher debt ratios.”
Influence of bank concentration and institutions on capital structure: New international evidence (2008, methodology): “…133 Spain companies, Shyam-Sunder and Myers (1999), Jalivand and Harris (1984) and Auerbach (1985) a value of 0.59-0.70 for the US, Kremp et al. (1999) a value of 0.53 for German firms and a value of 0.28 for France, Ozkan (2001) a 21 The influence of bank concentration on debt ratio is positive.”
Managerial Ownership, Capital Structure and Firm Value: Evidence from China’s Civilian-run Firms (2011, background): “A large block of literature regarding the determinants of capital structure considers firm value to be an important factor influencing corporate capital structure (Korajczyk & Levy 2003; Ozkan 2001; Titman & Wessels 1988).”
Do country or firm factors explain capital structure? Evidence from SMEs in France and Greece (2008, background): “shareholders and lenders may be particularly severe, as Van der Wijst (1989) and Ang (1992) note.”
Capital structure determinants: an empirical study of French companies in the wine industry (2008, background): “Therefore the companies’ liquidities should exert a negative impact on its leverage ratio (Ozkan, 2001).”
Testing trade-off and pecking order theories financing SMEs (2008, result): “These results coincide with other studies, such as Michaelas et al. (1999), Miguel and Pindado (2001) and Ozkan (2001) .”
Revisiting the capital‐structure puzzle: UK evidence (2011, methodology): “Ozkan (2001) found that profitability, liquidity, non-debt JRF 12,4 330 tax shield and growth opportunities are negatively related to capital-structure.”
Financial Structure of the Family Business: Evidence From a Group of Small Spanish Firms (2007, result): “However, it seems consistent with the pecking order theory and similar results have been obtained by numerous authors in their research (e.g., Coleman & Carski, 1999; Fama & French, 2002; Ozkan, 2001).”
Determinants of capital structure in emerging markets: evidence from Vietnam (2017, background): “On the one hand, a negative relation between leverage and liquidity is expected because if firms are having more debt, the associated higher liabilities and lower remaining current assets (Ozkan 2001).”
The Determinants of Capital Structure: Capital Market-Oriented versus Bank-Oriented Institutions (2008, neutral): “…Negative relation with leverage No relation with leverage Lagged Leverage Frank and Goyal (2004), MacKie-Mason (1990b), Miguel and Pindado (2001), Ozkan (2001) Profitability Blazenko (1987), Jensen (1986) Hovakimian (2004), Hovakimian et al. (2004) De Jong and Veld (2001), Flannery and Rangan…”