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https://www.um.edu.mt/library/oar/handle/123456789/68435| Title: | Capital structure choice in the Baltic countries |
| Authors: | Zelgalve, Elvira Berzkalne, Irina |
| Keywords: | Capital -- Estonia Capital -- Latvia Capital -- Lithuania Business enterprises -- Finance Corporations -- Finance Organizational effectiveness |
| Issue Date: | 2014 |
| Publisher: | Governance Research and Development Centre, Croatia & University of Malta, Faculty of Economics, Management and Accountancy, Department of Insurance |
| Citation: | Zelgalve, E., & Berzkalne, I. (2014). Capital structure choice in the Baltic countries. Journal of Corporate Governance, Insurance and Risk Management, 1(2), 181-192. |
| Abstract: | The data set consists of 58 companies listed on the Baltic Stock Exchange over the period from 2005 to 2012. The study analyses the trade-off and the pecking order theories of capital structure by using regression analysis. The empirical results indicate that Baltic listed companies do not apply pecking order to their capital structure. Speed of adjustment varies for long-term debt and short-term debt. Short-term debt is adjusted more quickly than long-term debt. Speed of adjustment also depends on company size and country. Large companies and companies from Estonia adjust their capital structure more quickly than medium companies and companies from Lithuania. |
| URI: | https://www.um.edu.mt/library/oar/handle/123456789/68435 |
| ISSN: | 2757-0983 |
| Appears in Collections: | JCGIRM, Volume 1, Issue 2, 2014 |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| JCGIRM1(2)A11.pdf | 183.27 kB | Adobe PDF | View/Open |
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