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  1. La structure du capital et la profitabilité
    une étude empirique sur données françaises en panel
    Autor*in: Kebewar, Mazen
    Erschienen: 2012
    Verlag:  Laboratoire d'Economie d'Orléans, Orléans Cedex

    The objective of this article is to analyze the impact of capital structure on profitability. This impact can be explained by three essential theories: signaling theory, tax theory and the agency costs theory. From a sample of 9136 firms distributed... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DSM
    Fernleihe:
    keine Fernleihe

     

    The objective of this article is to analyze the impact of capital structure on profitability. This impact can be explained by three essential theories: signaling theory, tax theory and the agency costs theory. From a sample of 9136 firms distributed on seven sectors taken over the period 1999-2006 by means of a study on dynamic panel by using the generalized method of moments (GMM), we show that there exists heterogeneity of behavior between sectors regarding the impact of capital structure on profitability. The empirical analysis allowed us to distinguish three different groups of sectors: for the first group (industry, energy and service), the capital structure has no impact on profitability. The second group, containing only the transport sector, is the group where the debt affects negatively the profitability in a linear way. The last group (agro-food, construction and trade) is characterized by the presence of a negative effect in a linear and nonlinear way. -- Capital structure ; Profitability ; GMM ; panel data.

     
    Export in Literaturverwaltung   RIS-Format
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    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Französisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/73559
    Schriftenreihe: Document de recherche ; 2012-08
    Umfang: Online-Ressource (42 S.), graph. Darst.
    Bemerkung(en):

    Zsfassung in engl. Sprache
  2. L' endettement affecte-t-il la profitabilité?
    le cas des firmes agro-alimentaires françaises : the case of French agro-food firms = Does debt affect profitability?
    Autor*in: Kebewar, Mazen
    Erschienen: 2012
    Verlag:  ZBW, Kiel

    This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We analyze a sample of 568 unlisted French companies (Agro-food sector) spanning over a period of 1999 to 2006. We show, by using the... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DSM
    Fernleihe:
    keine Fernleihe

     

    This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We analyze a sample of 568 unlisted French companies (Agro-food sector) spanning over a period of 1999 to 2006. We show, by using the generalized method of moments (GMM), that debt affects negatively on the profitability, but this effect is negligible and sometimes insignificant according to the ratio of profitability used (Prof1, Prof2 or ROA). Furthermore, we find existence of non-linear relationship (concave curve) between level of debt and profitability, but this non-linear impact is validated only in the case of very small enterprises -- debt ; GMM ; panel data ; profitability

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Französisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/73691
    Umfang: Online-Ressource (21 S.)
    Bemerkung(en):

    Zsfassung in engl. Sprache
  3. L' impact de l'endettement sur la profitabilité
    une étude empirique sur données françaises en panel : an empirical study on French data panel = The impact of debt on profitability
    Autor*in: Kebewar, Mazen
    Erschienen: 2012
    Verlag:  ZBW, Kiel

    This article aims to analyze the effect of debt on the profitability. This impact can be explained by three essential theories: signaling theory, the agency costs theory and tax theory. The sample consists of a panel of 1,078 French firms, unlisted,... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DSM
    Fernleihe:
    keine Fernleihe

     

    This article aims to analyze the effect of debt on the profitability. This impact can be explained by three essential theories: signaling theory, the agency costs theory and tax theory. The sample consists of a panel of 1,078 French firms, unlisted, anonymous type and Limited Liability Company; belonging to the construction sector over the period 1999-2006. We show, by using the generalized method of moments (GMM), that the debt affects negatively the profitability, not only linearly, but also, in a non-linear (concave) way. However, by detailing the analysis according to different class of size, we find that the linear negative effect and the non-linear effect are significant only in small and medium-sized enterprises (SME). -- Debts ; Profitability ; panel data ; GMM

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Französisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/73692
    Umfang: Online-Ressource (17 S.)
    Bemerkung(en):

    Zsfassung in engl. Sprache