An Empirical Examination of Microeconomic Capital Structure Determinants: Evidence from European Publicly Traded Manufacturers
An Empirical Examination of Microeconomic Capital Structure Determinants: Evidence from European Publicly Traded Manufacturers

Summary/Abstract: The paper analyses major capital structure determinants on the basis of data obtained from 736 listed production companies. The empirical material applies to the countries of France, Germany, Italy, the Netherlands, Poland and the UK. Research is conducted at the national level, leading to a comparative analysis of the results. The following factors are regarded to be major structural determinants: profitability, asset structure, company size, the business entity’s growth potential and risk.

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