... in terms of outsourcing R&D investments, as a determinant of capital structure. Moreover, it also considers the contingent role of family firms in the above-mentioned relationship. Design/methodology/approach We conducted several panel data fixed-effects regressions based on a sample of 10,584 firm...

..., it means that firms choose trade credit to replace bank loans. Decades after the seminal work of Modigliani and Miller (1958) – the “irrelevance theory of capital structure” – several theoretical models and empirical studies attempt to answer what determines a firm’s debt ratio. The trade-off theory...

... and to explore whether capital structure mediates the relationship between CEO characteristics and firm performance. Design/methodology/approach In order to test the hypothesized model, CEO duality, tenure and personal characteristics (age, gender and education) were taken as explanatory variables to study...

... and international strategies needs to be addressed in today’s global business environment. Capital structure Ownership structure Financial constraints Export propensity Small and medium-size enterprises Although the impact of financial constraints on firms’ investment decisions has been a recurrent...