The zero-leverage phenomenon in European listed firms: A financing decision or an imposition of the financial market?
This article provides empirical evidence on the zero-leverage phenomenon for a sample of European listed firms for the period 1995–2016. It is shown that there are two types of firms with zero leverage: the financially constrained firms that face obstacles in obtaining external finance, as predicted...
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| Other Authors: | , |
| Format: | article |
| Language: | eng |
| Published: |
2021
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10400.6/11515 |
| Country: | Portugal |
| Oai: | oai:ubibliorum.ubi.pt:10400.6/11515 |