What factors are economically important in the capital structure decision of European firms?
Olson D. Bartholdy J.
2025Routledge
Applied Economics Letters
2025#32Issue 91326 - 1329 pp.
Several factors previously identified in the finance literature are statistically significant in determining the long-term debt ratio of European firms. However, only age, size, current assets, and tangible assets have a meaningful economic impact. Tangible assets and firm size play a role in tradeoff theory and age is mentioned in pecking order theory, but our results provide only moderate support for these two theories of capital structure.
Capital structure , economic importance , pecking order theory , tradeoff theory
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Bang School of Business, KIMEP University, Almaty, Kazakhstan
Department of Economics, Aarhus University, Aarhus, Denmark
Bang School of Business
Department of Economics
10 лет помогаем публиковать статьи Международный издатель
Книга Публикация научной статьи Волощук 2026 Book Publication of a scientific article 2026