...–leverage association differs across high- and low-tangibility environments and across manufacturing and service firms. Findings Reported intangible assets are positively associated with leverage. This association is stronger in high-tangibility environments and in manufacturing firms, consistent...

...Hasan Tekin; Ali Yavuz Polat Purpose The authors investigate the impact of governance on the leverage of East Asian firms in the financial crisis context, in order to understand the puzzle whether debt acts as a substitute for governance or an outcome of the governance mechanism. Design...

... research models used in this study. First, the short-term estimation model, independent variables develop of empirical models, namely, leverage variables. Independent variables are the market-to-book ratio, external financial market-to-book ratio, asset ratio and firm size. Second, the long-term estimation...

... Capital structure Sub-Saharan Africa Leverage Speed of adjustment Country-specific factors Firm-specific factors Ever since Modigliani and Miller (1958, 1963) , researchers have made considerable progress in enhancing our understanding of the factors that are reliably important...