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Pregled bibliografske jedinice broj: 861070

Capital Structure Determinants of Small and Medium Enterprises in Croatia


Šarlija, Nataša; Harc, Martina;
Capital Structure Determinants of Small and Medium Enterprises in Croatia // Managing Global Transitions: International Research Journal, 14 (2016), 3; 251-266 (međunarodna recenzija, članak, znanstveni)


CROSBI ID: 861070 Za ispravke kontaktirajte CROSBI podršku putem web obrasca

Naslov
Capital Structure Determinants of Small and Medium Enterprises in Croatia

Autori
Šarlija, Nataša ; Harc, Martina ;

Izvornik
Managing Global Transitions: International Research Journal (1854-6935) 14 (2016), 3; 251-266

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
capital structure, determinants of capital structure, trade off theory, pecking order theory

Sažetak
Most of the research about capital structure is focused towards two theories: trade off theory (tot) and pecking order theory (pot). The idea is to explore which theory works better in certain conditions and identify the key determinants that affect the capital structure of the company. However, in different countries different determinants with opposite relation to the leverage are found to be significant. Besides, most of the previous researches are oriented on listed companies. The aim of this paper is to analyse the capital structure of small and medium enterprises in Croatia through the analysis of the fundamental determinants of the capital structure. The research was conducted on a data sample of 500 smes in Croatia in the period of 2005–2011. On the unbalanced panel data set a linear regression is applied. Influence of determinants on leverage is estimated by a static panel model with random effect and with fixed effect estimation. Four capital structure determinants are analysed: growth, size, profitability and tangible assets. The results of this research support the pecking order theory confirming that smes in Croatia are primarily financed from internally generated funds that affect profitability, growth, tangible assets and enterprise size.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekti:
3933

Ustanove:
Ekonomski fakultet, Osijek,
Hrvatska akademija znanosti i umjetnosti

Profili:

Avatar Url Martina Harc (autor)

Avatar Url Nataša Šarlija (autor)

Citiraj ovu publikaciju:

Šarlija, Nataša; Harc, Martina;
Capital Structure Determinants of Small and Medium Enterprises in Croatia // Managing Global Transitions: International Research Journal, 14 (2016), 3; 251-266 (međunarodna recenzija, članak, znanstveni)
Šarlija, N., Harc, M. & (2016) Capital Structure Determinants of Small and Medium Enterprises in Croatia. Managing Global Transitions: International Research Journal, 14 (3), 251-266.
@article{article, year = {2016}, pages = {251-266}, keywords = {capital structure, determinants of capital structure, trade off theory, pecking order theory}, journal = {Managing Global Transitions: International Research Journal}, volume = {14}, number = {3}, issn = {1854-6935}, title = {Capital Structure Determinants of Small and Medium Enterprises in Croatia}, keyword = {capital structure, determinants of capital structure, trade off theory, pecking order theory} }
@article{article, year = {2016}, pages = {251-266}, keywords = {capital structure, determinants of capital structure, trade off theory, pecking order theory}, journal = {Managing Global Transitions: International Research Journal}, volume = {14}, number = {3}, issn = {1854-6935}, title = {Capital Structure Determinants of Small and Medium Enterprises in Croatia}, keyword = {capital structure, determinants of capital structure, trade off theory, pecking order theory} }

Uključenost u ostale bibliografske baze podataka::


  • ABI/INFORM
  • EconLit
  • International Bibliography of the Social Sciences (IBSS)





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