Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/73185
Autoren: 
Kebewar, Mazen
Datum: 
10-Mai-2013
Zusammenfassung: 
This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We analyze a sample of an unbalanced panel of 2325 unlisted French companies of trade sector spanning over a period of 1999 to 2006. By using the generalized method of moments (GMM), we show that the debt affects negatively the profitability, not only linearly, but also, in a non-linear (concave) way. However, while analyzing according to different size classes (VSEs, SMEs and LEs); we find that the linear negative effect becomes larger and the non-linear effect is significant only in small and medium-sized enterprises (SME).
Schlagwörter: 
Debt
GMM
Panel data
Profitability
JEL: 
C33
G32
L25
Dokumentart: 
Preprint

Datei(en):





Publikationen in EconStor sind urheberrechtlich geschützt.