Pecking Order Versus Trade Off An Empirical Approach To The Small And



Pecking Order ; Trade-off ; Capital Structure ; Small and Medium Enterprises ; Panel Data. The results suggest that both theoretical approaches contribute to explain capital structure in SMEs. Posted: 29 May Jeffrey Wurgler Testing Tradeoff and Pecking Order Predictions About Dividends Smapl Debt By. Testing Tradeoff and Pecking Order Predictions About Dividends and Debt.




In this paper, we explore two of the most relevant theories that explain financial policy in small and medium enterprises SMEs : pecking order theory and trade-off theory. Panel data methodology is used to test the empirical hypotheses over a sample of Spanish SMEs during the five-year period ? The results suggest that both theoretical approaches contribute to explain capital structure in SMEs.

However, while we find evidence that SMEs attempt to achieve a target or optimum leverage trade-off modelthere is less support for the view that SMEs adjust their leverage level to their financing requirements pecking order model. If you experience problems downloading a file, check if Smmall have the. In case of further problems read.

Note that these files are Pecking Order Versus Trade Off An Empirical Approach To The Small And on the IDEAS. Please be patient as the files may be large. Ivie in its Peckiny Working Papers. Serie EC Trsde number. RIS EndNote, RefMan, ProCite. Date of creation: Jun Forex Technical Analysis Online Live Course in Miami Florida status: Published by Ivie. Pecking Order ; Trade-off ; Capital Structure ; Small and Medium Enterprises ; Panel Data.

G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill. G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation. References listed on IDEAS Please report citation or reference errors toorif you are the registered author of the cited work, log in to your RePEc Author Service profileclick on Approacch and make appropriate adjustments.

Journal of Financial Economics. Hansen, Lars Peter, Williamson, Oliver E, Journal of Finance. American Finance Association, vol. Small Business Economics. MacKie-Mason, Jeffrey K, Journal of Econometrics. Finance and Economics Discussion Series. Review of Financial Studies. Society for Financial Studies, vol. Scott, James H, Jr, Taggart, Robert A, Jr, Some Evidence from International Data ,".

Myers, Stewart C, Handbook of Econometrics. European Financial Management. European Financial Management Association, vol. Kim, E Han, Review of Economic Studies. Oxford University Press, vol. RTZ, Boston College Department of Economics. SMEs: Empirical Evidence from Company Panel Data ,". Journal of Corporate Finance. Full references including those not matched with items on IDEAS. Approzch are extracted by the CitEc Projectsubscribe to its RSS feed for this item. Ekonomika a Management.

University of Economics, Prague, Emlirical. Review of Quantitative Finance and Accounting. VVersus item is not listed on Wikipedia, on a reading list or among the top items on IDEAS. Access and download statistics. When requesting a correction, please mention this item's handle: RePEc:ivi:wpasec See general information about how to correct material in RePEc.

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IDEAS is a service hosted by the Research Division of the Federal Pekcing Bank of St. Log in now much improved! Pecking Order Versus Trade-Off: An Empirical Approach To The Small And Medium Enterprise Capital Structure. Contents: Author info Abstract Bibliographic info Download info Related research References Citations Lists Statistics Corrections. Author Info Listed author s : Francisco Sogorb- Mira Universidad CEU Cardenal Herrera.

Registered author s : Abstract In this paper, we explore two of the most relevant theories that explain financial policy in small and nA enterprises SMEs : pecking order theory and trade-off theory. Access and download statistics Corrections. New papers by email. Subscribe to new additions to RePEc. Public profiles for Economics researchers. Who was a student of whom, using RePEc. Upload your paper to be listed on RePEc and IDEAS. Blog aggregator for economics research.

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Opportunity Cost and Trade Off


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