The Impact of Financial Structure on the Performance of European Listed Firms

Hani El-Chaarani

European Research Studies Journal, 2014, vol. XVII, issue 3, 103-124

Abstract: By considering different systems of legal protection this study examines the impact of capital structure on the performance of listed firms in European region. Based on 5050 listed firms in eight European countries, the results of the study reveal that the owners in low level of legal protection are more likely to use the capital structure of the firms in order to serve their proper interests. In high level of legal protection, the market based system and the debts are enrolled to constraint the expropriation of private benefits.

Keywords: Capital Structure; Financial Performance; Legal Protection; Financial Behaviour; Leverage (search for similar items in EconPapers)
JEL-codes: G15 G31 H11 K4 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xvii:y:2014:i:3:p:103-124

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