An agency theory approach on Romanian listed companies’ capital structure
Capital structure is one of the most studied thematics in corporate finance because of its strong dependencies with companies’ performance. Literature provides various theories trying to explain capital structure and financing decisions. Agency theory treats the subject from a principal-agent approa...
| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2017-09-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1292.pdf
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| _version_ | 1811274185365782528 |
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| author | Liviu-Adrian ȚAGA |
| author_facet | Liviu-Adrian ȚAGA |
| author_sort | Liviu-Adrian ȚAGA |
| collection | DOAJ |
| description | Capital structure is one of the most studied thematics in corporate finance because of its
strong dependencies with companies’ performance. Literature provides various theories trying to
explain capital structure and financing decisions. Agency theory treats the subject from a
principal-agent approach. Diverging interests of these two decisional factors can explain the
financing decisions taken by companies where other capital structure’s theories fail. Testing
agency theory implications against a sample of Romanian listed companies will show whether this
theoretical concept provides empirical results in an emerging market with developing capital
market. |
| first_indexed | 2024-04-12T23:14:21Z |
| format | Article |
| id | doaj.art-dc04cf24d653479f8db7f97cb37031b8 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-04-12T23:14:21Z |
| publishDate | 2017-09-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-dc04cf24d653479f8db7f97cb37031b82022-12-22T03:12:44ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292017-09-01XXIV3395018418678An agency theory approach on Romanian listed companies’ capital structureLiviu-Adrian ȚAGA0 Bucharest Academy of Economic Studies, Romania Capital structure is one of the most studied thematics in corporate finance because of its strong dependencies with companies’ performance. Literature provides various theories trying to explain capital structure and financing decisions. Agency theory treats the subject from a principal-agent approach. Diverging interests of these two decisional factors can explain the financing decisions taken by companies where other capital structure’s theories fail. Testing agency theory implications against a sample of Romanian listed companies will show whether this theoretical concept provides empirical results in an emerging market with developing capital market. http://store.ectap.ro/articole/1292.pdf agency theoryoptimal capital structurestakeholder typeequityleverage |
| spellingShingle | Liviu-Adrian ȚAGA An agency theory approach on Romanian listed companies’ capital structure Theoretical and Applied Economics agency theory optimal capital structure stakeholder type equity leverage |
| title | An agency theory approach on Romanian listed companies’ capital structure |
| title_full | An agency theory approach on Romanian listed companies’ capital structure |
| title_fullStr | An agency theory approach on Romanian listed companies’ capital structure |
| title_full_unstemmed | An agency theory approach on Romanian listed companies’ capital structure |
| title_short | An agency theory approach on Romanian listed companies’ capital structure |
| title_sort | agency theory approach on romanian listed companies capital structure |
| topic | agency theory optimal capital structure stakeholder type equity leverage |
| url |
http://store.ectap.ro/articole/1292.pdf
|
| work_keys_str_mv | AT liviuadriantaga anagencytheoryapproachonromanianlistedcompaniescapitalstructure AT liviuadriantaga agencytheoryapproachonromanianlistedcompaniescapitalstructure |