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Is the stability of the leverage ratios determined by the stability of the economy?
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SYSNO ASEP 0337833 Document Type C - Proceedings Paper (int. conf.) R&D Document Type Conference Paper Title Is the stability of the leverage ratios determined by the stability of the economy? Author(s) Shamshur, Anastasiya (NHU-C) RID Source Title Proceedings of 27th International Conference Mathematical Methods in Economics 2009. - Prague : Czech University of Life Sciences Prague, 2009 / Brožová Helena - ISBN 978-80-213-1963-9 Pages s. 284-289 Number of pages 6 s. Action 27th International Conference Mathematical Methods in Economics 2009 Event date 09.09.2009-11.09.2009 VEvent location Kostelec nad Černými lesy Country CZ - Czech Republic Event type CST Language eng - English Country CZ - Czech Republic Keywords capital structure ; financing decisions ; ownership Subject RIV AH - Economics R&D Projects GA402/09/1595 GA ČR - Czech Science Foundation (CSF) CEZ MSM0021620846 - NHU-C UT WOS 000275146900052 Annotation The choice of capital structure by firms is a fundamental issue in financial literature. According to a recent finding, the capital structure of firms remains almost unchanged during their lives meaning that leverage ratios are significantly stable over time. I study how substantial changes in the economy affect the stability of firm capital structure in transition countries. Specifically, I concentrate on Central and Eastern European economies that passed through transition from central planning to market economy and privatization, Russian financial crisis, and EU membership. Workplace Economics Institute - CERGE Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2010
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