The aim of the research is to investigate the trend of the financial debt of European nonfinancial corporations between 1999 and 2016, analyzing the evolution of key leverage ratios. Subsequently, in a context of reduction of such sources of funding, the dynamics of investment and of alternative sources of financing will be analyzed to verify whether a reduction in bank financing have had a negative impact on non-financial investment or whether the gap resulting from bank-debt reduction has been offset by an increase in the equity and the debt-type alternative sources.
Measuring causes and effects of firms deleveraging process
D'ANGELO E
2018-01-01
Abstract
The aim of the research is to investigate the trend of the financial debt of European nonfinancial corporations between 1999 and 2016, analyzing the evolution of key leverage ratios. Subsequently, in a context of reduction of such sources of funding, the dynamics of investment and of alternative sources of financing will be analyzed to verify whether a reduction in bank financing have had a negative impact on non-financial investment or whether the gap resulting from bank-debt reduction has been offset by an increase in the equity and the debt-type alternative sources.File in questo prodotto:
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