The work begins with an extensive literature review of capital structure theory, financial harmonization, and contemporary studies relating to value creation. This study took data from The European Committee of Central Balance Sheet Data Offices harmonized accounting data from manufacturing firms in Italy, Spain, Portugal, Japan, and the United States. Fifteen financial indicators from the balance sheet: nine from assets, five from liabilities, and three indicators from the profit and loss account were extracted from the database. This study finds that corporate financial structures alone do...
The work begins with an extensive literature review of capital structure theory, financial harmonization, and contemporary studies relating to value c...
