| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Firm-level and institutional determinants of corporate capital structure in Poland : new evidence from the Warsaw stock exchange |
| Authors: | Hartwell, Christopher A. Malinowska, Anna P. |
| et. al: | No |
| Published in: | Finance a úvěr - Czech Journal of Economics and Finance |
| Volume(Issue): | 68 |
| Issue: | 2 |
| Page(s): | 120 |
| Pages to: | 143 |
| Issue Date: | 2018 |
| Publisher / Ed. Institution: | Univerzita Karlova v Praze - Charles University in Prague |
| ISSN: | 0015-1920 2464-7683 |
| Language: | English |
| Subjects: | Capital structure; Pecking order theory; Trade-off theory; Institution |
| Subject (DDC): | 332: Financial economics |
| Abstract: | This paper discusses how well major capital structure theories incorporate firm-level and institutional factors into short-term firm financing decisions in a specific context, that of a transition economy. Using a new dataset of non-financial companies quoted on the Warsaw Stock Exchange between 2007-2015, we argue that neither the trade-off nor the pecking order theories fully explain corporate debt policies in Poland. The results of dynamic panel data modelling highlight the importance of the strength of property rights and stock market capitalisation as driving forces behind corporate financing decisions. |
| URI: | http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf https://digitalcollection.zhaw.ch/handle/11475/22551 |
| Fulltext version: | Published version |
| License (according to publishing contract): | Licence according to publishing contract |
| Departement: | School of Management and Law |
| Organisational Unit: | International Management Institute (IMI) |
| Appears in collections: | Publikationen School of Management and Law |
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Hartwell, C. A., & Malinowska, A. P. (2018). Firm-level and institutional determinants of corporate capital structure in Poland : new evidence from the Warsaw stock exchange. Finance a Úvěr - Czech Journal of Economics and Finance, 68(2), 120–143. http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf
Hartwell, C.A. and Malinowska, A.P. (2018) ‘Firm-level and institutional determinants of corporate capital structure in Poland : new evidence from the Warsaw stock exchange’, Finance a úvěr - Czech Journal of Economics and Finance, 68(2), pp. 120–143. Available at: http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf.
C. A. Hartwell and A. P. Malinowska, “Firm-level and institutional determinants of corporate capital structure in Poland : new evidence from the Warsaw stock exchange,” Finance a úvěr - Czech Journal of Economics and Finance, vol. 68, no. 2, pp. 120–143, 2018, [Online]. Available: http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf
HARTWELL, Christopher A. und Anna P. MALINOWSKA, 2018. Firm-level and institutional determinants of corporate capital structure in Poland : new evidence from the Warsaw stock exchange. Finance a úvěr - Czech Journal of Economics and Finance [online]. 2018. Bd. 68, Nr. 2, S. 120–143. Verfügbar unter: http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf
Hartwell, Christopher A., and Anna P. Malinowska. 2018. “Firm-Level and Institutional Determinants of Corporate Capital Structure in Poland : New Evidence from the Warsaw Stock Exchange.” Finance a Úvěr - Czech Journal of Economics and Finance 68 (2): 120–43. http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf.
Hartwell, Christopher A., and Anna P. Malinowska. “Firm-Level and Institutional Determinants of Corporate Capital Structure in Poland : New Evidence from the Warsaw Stock Exchange.” Finance a Úvěr - Czech Journal of Economics and Finance, vol. 68, no. 2, 2018, pp. 120–43, http://journal.fsv.cuni.cz/storage/1404_hartwell.pdf.
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