Detail publikace

Určující znaky rozhodování v korporátním finančnictví: poznatky z průzkumu v českých podnicích

Autor: Ing. Irena Jindřichovská CSc.,
PhDr. Pavel Körner Ph.D.,
Typ: IES Working Papers
Rok: 2008
Číslo: 1
ISSN / ISBN:
Publikováno v: IES Working Papers 2008/1
Místo vydání: Prague
Klíčová slova: korporátní finance, kapitálová struktura, trade-off teorie, pecking order teorie, transitní ekonomiky, průzkum
JEL kódy: G32
Citace: Jindrichovska, J.,Körner, P. (2008). “ Determinants of corporate financing decisions: a survey evidence from Czech firms ” IES Working Paper 1/2008. IES FSV. Charles University.
Granty: 402/05/2123 (2005-2007) Efektivnost na finančních trzích a nová basilejská dohoda (NBCA)
Abstrakt: This paper investigates the empirical evidence on determinants of financing decisions on the pool of respondents among financial managers of Czech firms. The theoretical section provides an overview of prominent contemporary theories on capital structure. Employing Chi-square Sign Test and Logit regression the empirical analysis provides the evidence how the financial managers perceive particular instruments of internal and external financing. We find, that firms follow pecking order theory for working capital financing, however the arguments for pecking order theory in investment financing are not that strong. Firms prefer retained earnings among internal financing instruments and bank loans and leasing among external financing instruments. Finally, the paper discusses the links with practice and some limitations of the results.
Ke stažení: WP 2008_1_Jindrichovska, Korner
VO Martina Jasova

20

Prosinec

VO Martina Jasova

Prosinec 2017
poútstčtsone
    123
45678910
11121314151617
18192021222324
25262728293031

Partneři

ČSOB
Deloitte
McKinsey & Company

Sponzoři

CRIF