Abstract
We investigate the capital structure of Hungarian and Czech firms using a cross-section and a panel data approach. We find evidence of imperfections that constrain firms in the achievement of their optimal capital structure, but also some positive signs and in particular the indication that there are no distortions typical of the planned system. From the analysis it emerges also that Hungarian firms seem to respond better to market incentives signals in their capital structure choice, with respect to their Czech counterparts.
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Colombo, E., Revoltella, D. (2003). Corporate Capital Structure in Transition: Evidence from Hungarian and Czech Firms. In: Colombo, E., Driffill, J. (eds) The Role of Financial Markets in the Transition Process. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-57372-9_8
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DOI: https://doi.org/10.1007/978-3-642-57372-9_8
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-0004-3
Online ISBN: 978-3-642-57372-9
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