La structure financière des entreprises en Europe: une investigation empirique de la neutralité du bilan

Elisabeth Paulet

Economie & Prévision, 2003, vol. 157, issue 1, 71-82

Abstract: Financial liberalisation has led to a large increase in the number of sources of finance for companies. The question is whether all companies have access to these various instruments. The aim of this article is to identify these characteristics as a function of size of company for the European countries. Following a survey of the literature, we go on to examine the determinants of the financial structure of European companies (Part I). Using the Biais, Hillion et Malécot (1995) model, we then examine in Part II the breakdown between these various sources of finance from 1989 to 1998. Finally, we enquire into the complementarity or substitutability of these various methods as a function of the size of company (Part III). Part IV sets out the conclusions.

Keywords: European companies; financial policy; banking and commercial debt (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOP_157_0071 (application/pdf)
http://www.cairn.info/revue-economie-et-prevision-1-2003-1-page-71.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_157_0071

Access Statistics for this article

More articles in Economie & Prévision from La Documentation Française
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().