Financing choices of firms in EU accession countiries
Nivorozhkin, Eugene (10.07.2004)
Numero
6/2004Julkaisija
Bank of Finland
2004
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201408072050Tiivistelmä
The paper presents evidence of actual and target capital structures of firms in five EU accession countries of Central and Eastern Europe and the former Soviet Union (Bulgaria, the Czech Republic, Poland, Romania and Estonia).We consider the financial constraints of private companies and compare the level of indebtedness and the determinants firms choices of capital structure in selected EU accession countries and EU countries.A dynamic non-linear adjustment model is adopted to explicitly model the adjustment of a firm s leverage to a target leverage.
Julkaisuhuomautus
Published in Emerging Markets Review vol. 6, no 2 (2005), pp. 138-169