Optimal capital structure and leverage adjustment speed of european public and private firms

Stegovec, Klemen (avtor), Črnigoj, Matjaž (avtor)

In this research paper, the dynamic trade-off theory is tested by applying European public and private firms, since as much of the existing research remains in the US public firm context only. The results of our research show that European firms, both private and public, follow the optimal capital structure path consistent with the dynamic trade-off theory. We find that above optimally levered firms adjust their leverage towards the optimal capital structure faster than the below optimally levered ones. In addition, the results show that public and private firms seem to make similar leverage adjustment decisions and that not only the size but also the public/private status of the firms account for the differences.

• Jezik: Angleški jezik
• Ključne besede: javni sektor, private sector, capital, structure, indebtedness
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Različica publikacije: Objavljena publikacija
• Leto izida: 2020
• Št. strani: Str. 261-288, 318
• Številčenje: Vol. 22, iss. 2
• PID: 20.500.12556/RUL-121967
• UDK: 336.76
• ISSN pri članku: 1580-0466
• DOI: 10.15458/ebr103
• COBISS.SI-ID: 35559939
• Datum objave v RUL: 12.11.2020

STEGOVEC, Klemen in ČRNIGOJ, Matjaž, 2020, Optimal capital structure and leverage adjustment speed of european public and private firms. Economic and business review [na spletu]. 2020. Vol. 22, no. 2, p. 261–288, 318. [Dostopano 26 april 2025]. DOI 10.15458/ebr103. Pridobljeno s: https://repozitorij.uni-lj.si/IzpisGradiva.php?lang=slv&id=121967

Gradivo je del revije

• Naslov: Economic and business review
• Skrajšan naslov: Econ. bus. rev
• Založnik: Ekonomska fakulteta
• ISSN: 1580-0466
• COBISS.SI-ID: 103864832

Licence

• Licenca: CC BY-NC-SA 4.0, Creative Commons Priznanje avtorstva-Nekomercialno-Deljenje pod enakimi pogoji 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by-nc-sa/4.0/deed.sl
• Opis: Licenca Creative Commons, ki prepoveduje komercialno uporabo in zahteva, da uporabnik predelana dela objavi z enako licenco.
• Začetek licenciranja: 12.11.2020

Sekundarni jezik

• Jezik: Slovenski jezik
• Naslov: Optimalna struktura kapitala in hitrost prilagajanja zadolženosti evropskih javnih in zasebnih podjetij
• Ključne besede: public sector, privatni sektor, kapital, struktura, zadolženost