Discussion Papers no. 468
The financing structure of non-listed firms
This paper presents an analysis of how Norwegian non-listed firms are financed. Using a unique database covering all limited liability firms in Norway, both the size (leverage) and composition (maturity structure) of debt are investigated. The empirical evidence provides support for the effects of taxes, asymmetric information and size suggested in the theoretical literature, and rejects the effects of agency costs and the pecking order theory.
Om publikasjonen
- Tittel
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The financing structure of non-listed firms
- Ansvarlige
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Suzan Hol, Nico van der Wijst
- Serie og -nummer
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Discussion Papers no. 468
- Utgiver
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Statistics Norway
- Emne
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Discussion Papers
- Antall sider
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30
- Målform
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Engelsk
- Om Discussion Papers
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Discussion papers comprise research papers intended for international journals and books. A preprint of a Discussion Paper may be longer and more elaborate than a standard journal article as it may include intermediate calculations, background material etc.
Kontakt
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