2021
DOI: 10.32890/ijbf2022.17.1.4
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Determinants of the Capital Structure of European Firms: The Moderating Role of Efsf/Esm Financial Assistance Programs

Abstract: The present study has investigated the moderating effect of the European Financial Stability Facility (EFSF) / European Stability Mechanism (ESM) support to the firms’ indebtness. Using dynamic panel data, three models were estimated and aimed at the determination of the way that EFSF/ESM financial assistance programs could influence the impact of five firm-specific characteristics, namely growth, profitability, size, tangibility and non-debt tax shield on the capital structure of European firms. Data from 2,0… Show more

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