Open AccessFirm- and Country-Level Drivers of Capital Structure: Quantitative Evidence from Central and Eastern European Listed Companies
Author(s) -
Diana Alexandra Toader,
Georgeta Vintilă,
Ştefan Cristian Gherghina
Publication year - 2022
Publication title -
journal of financial studies and research
Language(s) - English
Resource type - Journals
ISSN - 2166-000X
DOI - 10.5171/2022.572694
Subject(s) - capital structure , panel data , business , capital (architecture) , accounting , regional science , economics , geography , finance , econometrics , debt , archaeology
This paper aims to investigate the determinants of capital structure in developing countries, like Romania, Bulgaria and Hungary. This research adopts the unbalanced panel data of 152 listed companies, over the period 1996-2020, estimated by two-stage least squares.