the objective of this study is to examine the effect of mispricing on firm’s investment behavior and capital structure. it also tests the role of the level of financial constraints in the relationship between mispricing , investment and capital structure. using data of 110 firms of tehran stock exchang from 1384-1389, results indicated that mispricing has negative impact to firms investment. ho...

This paper analyzes how human capital and economic uncertainty affect capital structure and managerial compensation. We model a competitive industry where wealth constrained managers provide human capital that can be transferred across firms, and where equityholders give managers access to the physical assets of the firm. Equityholders and managers bargain for the firm’s stochastic free cash fl...

This paper analyzes the change in the capital structure behavior in a sample of Spanish venture capital (VC) backed firms after the first capital infusion. We find that VC investors contribute to unlisted growing firms in the attraction of other long term sources of funds to continue their growth process. Our results show significant changes in determinants such as tangibility, size and profita...

This paper examines the impact of industrial policy on capital structure based on a partial adjustment model of capital structure that incorporates financial flexibility, macroeconomic conditions, economic development as well as firm-level factors. The issue is investigated in the context of Taiwan where industrial policy is widely considered to have played a strategic role in its economic succ...

This study test the impact of financial markets development on capital structure of firms listed on Ho Chi Minh stock exchange (HOSE). Base on the financial data of 116 firms listed on HOSE, in the period from 2009 to 2015 and generalized least square regression method, this study shows that market capitalization is positive relationship with debt rate in capital structure, volume of shares tra...

In this paper, we develop a model of dynamic capital structure choice based on a sample of Korean manufacturing firms and estimate the unobservable optimal capital structure using a wide range of observable determinants. Uunbalanced panel data of Korean listed firms for the period 1985 to 2002 is used. In addition to identifying and estimating the effects of the determinants of capital structur...

The aim of this empirical study is to explore the trade-off model and pecking order model of capital structure. The investigation is performed using panel data procedures for a sample of 76 firms listed in Tehran Stock Exchange during 2007-2010.The study employs OLS regression model in examining the capital structure of firms in Iran. The study employs variables reflecting differing theoretical...