The capital structure of firms in Central and Eastern Europe
F Cornelli, R Portes, ME Shaffer - 1996 - papers.ssrn.com
F Cornelli, R Portes, ME Shaffer
1996•papers.ssrn.comAccording to more recent theories on the optimal capital structure, the availability of external
financing is not always guaranteed, or it may come at different costs, depending on the
methods of financing used (dept vs. equity, long-term dept vs. short-term dept, etc.) under
such circumstances, firms' investment and financing decisions are interdependent. This
paper studies the optimal capital structure for enterprises in transition economies and
investigates the actual capital structure and its determinance in Hungary and Poland.
financing is not always guaranteed, or it may come at different costs, depending on the
methods of financing used (dept vs. equity, long-term dept vs. short-term dept, etc.) under
such circumstances, firms' investment and financing decisions are interdependent. This
paper studies the optimal capital structure for enterprises in transition economies and
investigates the actual capital structure and its determinance in Hungary and Poland.
Abstract
According to more recent theories on the optimal capital structure, the availability of external financing is not always guaranteed, or it may come at different costs, depending on the methods of financing used (dept vs. equity, long-term dept vs. short-term dept, etc.) under such circumstances, firms' investment and financing decisions are interdependent. This paper studies the optimal capital structure for enterprises in transition economies and investigates the actual capital structure and its determinance in Hungary and Poland.
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