DEVIATION FROM TARGET CAPITAL STRUCTURE AS A FACTOR OF ACQUISITION DECISIONS IN EUROPEAN DEVELOPED MARKETS

Ana Mugoša, Saša Popović The purpose of this paper is to examine the causal relation between deviations from targetcapital structure (leverage deficit) and acquisition choices in capital markets in Western Europe.The analysis is conducted using a sample of 921 large companies, which represents a strong andsolid base for testing target capital structure and takeover interdependence, […]

METHODOLOGICAL CONTRIBUTION TO THE DETECTION OF BACKWARD LINKAGES BETWEEN SECTORS OF THE ECONOMY

Xesús Pereira López, Małgorzata Anna Węgrzyńska, Melchor Fernández Fernández In national accounting, there are several synthetic indicators derived from the Leontiefinverse, referred to as Total Material Requirement coefficients, which are commonly used inefficiency analyses and are known as input-output multipliers. Among the many indices thatcan be elaborated from input-output analysis, those related to the detection […]

DOES CAPITAL DRAIN REDUCE TOTAL FACTOR PRODUCTIVITY GROWTH IN DEVELOPING COUNTRIES?

Halit Yanikkaya, Abdullah Altun This study investigates the effects of foreign direct investment (FDI) and royalties and licence fees (RLF) on total factor productivity (TFP) growth of about 90 countries for the period 2003-2011 for both inward and outward variables. The estimates for the full sample indicate that while inward FDI stocks have no significant […]

IS REPUTATIONAL RISK IMPORTANT FOR BANK PERFORMANCE? EVIDENCE FROM CEE-11 COUNTRIES

Ewa Miklaszewska, Krzysztof Kil, Małgorzata Pawłowska The 2007-2009 revealed the weaknesses of the growth foundation and failure of risk management systems in large global banks. Consequently, there has been renewed interest in the creation of stable and functional risk culture. Protecting a financial institution’s reputation is among the most significant challenges facing financial firms. Thus […]