EXAMINING CAPITAL STRUCTURE OF CZECH FIRMS

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dc.authoridUgurlu, Erginbay / 0000-0002-1297-1993
dc.authorwosidUgurlu, Erginbay / H-8209-2018
dc.authorwosidJindrichovska, Irena / N-5867-2019
dc.authorwosidJindrichovska, Irena / N-7626-2015
dc.authorwosidKubickova, Dana / F-5098-2013
dc.authorwosidUgurlu, Erginbay / AAH-1227-2019
dc.contributor.authorJindrichovska, Irena
dc.contributor.authorUgurlu, Erginbay
dc.contributor.authorKubickova, Dana
dc.date.accessioned2021-11-01T14:58:09Z
dc.date.available2021-11-01T14:58:09Z
dc.date.issued2013
dc.department[Belirlenecek]
dc.description7th International Days of Statistics and Economics -- SEP 19-21, 2013 -- Prague, CZECH REPUBLIC
dc.description.abstractIn this paper we explore two relevant theories of company capital structure - pecking order theory and trade-off theory on a sample of Czech firms. In trade of theory; companies identify their optimal capital structure and weigh up the advantages and disadvantages of an additional monetary unit of debt. To test both theories panel data methodology is used over a sample of 94 Czech companies during the years 2005-2010 with the use of annual data. Because we use lagged dependent variable amongst independent variables to test pecking order theory and trade-off theory we employ Arellano and Bond (1991) GMM and Anderson and Hsiao (1982) 2SLS models. We explore the influence on total debt ratio as a dependent variable in two formats and independent/explanatory variables, which correspond to specific company characteristics depending on previous literature. Our results suggest that both theoretical approaches contribute to explain capital structure in Czech firms.
dc.description.sponsorshipUniv Econ, Dept Stat & Probabil, Univ Econ, Dept Microeconom, Univ Econ, Fac Business Econ, Ceska Sporitelna, ESC Rennes Int Sch Businessen_US
dc.description.sponsorshipUniversity of Economics and Managementen_US
dc.description.sponsorshipThis contribution is supported by University of Economics and Management.en_US
dc.identifier.endpage520en_US
dc.identifier.isbn978-80-86175-87-4
dc.identifier.startpage509en_US
dc.identifier.urihttps://hdl.handle.net/11491/6479
dc.identifier.wosWOS:000339103100052
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.institutionauthor[Belirlenecek]
dc.language.isoen
dc.publisherMelandrium
dc.relation.ispartof7Th International Days Of Statistics And Economics
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectCapital structureen_US
dc.subjecttrade off theoryen_US
dc.subjectpecking order theoryen_US
dc.subjectbig companiesen_US
dc.subjecttransitional economyen_US
dc.subjectDynamic Panel Data Modelsen_US
dc.titleEXAMINING CAPITAL STRUCTURE OF CZECH FIRMS
dc.typeConference Object

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