Analyzing Capital Structure across Industries: Evidence from Croatia

Arsov, S. & Naumoski, A., 2016. Determinants of capital structure: An empirical study of companies from selected post-transition economies. Zbornik radova Ekonomskog fakulteta u Rijeci, 34(1), pp. 119-146.10.18045/zbefri.2016.1.119Search in Google Scholar

Booth, L., Aivazian, V., Demirguc-Kunt, A. & Maksimovic, V., 2001. Capital Structures in Developing Nations. The Journal of Finance, 56(1), pp. 87-130.10.1111/0022-1082.00320Search in Google Scholar

Chen, L., Ma, Y., Malatesta, P. & Xuan, Y., 2013. Corporate Ownership structure and the choice between bank debt and public debt. Journal of Financial Economics, 109(2), pp. 517-534.10.1016/j.jfineco.2013.03.006Search in Google Scholar

Črnigoj, M. & Mramor, D., 2009. Determinants of Capital Structure in Emerging European Economies: Evidence from Slovenian Firms. Emerging Markets Finance and Trade, 45(1), pp. 72-89.10.2753/REE1540-496X450105Search in Google Scholar

Delcoure, N., 2007. The determinants of capital structure in transitional economies. International Review of Economics and Finance, 16(3), pp. 400-415.10.1016/j.iref.2005.03.005Search in Google Scholar

Ghosh, A., 2012. Capital Structure and Firm Performance. 2nd ed. New Brunswick: Transaction Publishers.Search in Google Scholar

Harris, M. & Raviv, A., 1991. The Theory of Capital Structure. The Journal of Finance, 46(1), pp. 297-355.10.1111/j.1540-6261.1991.tb03753.xSearch in Google Scholar

Hernadi, P. & Ormos, M., 2012. Capital Structure and Its Choice In Central and Eastern Europe. Acta Oeconomica, 62(2), pp. 229-263.10.1556/aoecon.62.2012.2.5Search in Google Scholar

Jensen, M. & Meckling, W., 1976. Theory of the firm: managerial behavior, agency costs and capital structure. Journal of Financial Economics, 3(4), pp. 305-360.10.1016/0304-405X(76)90026-XSearch in Google Scholar

Jung, K., Kim, Y.-C. & Stulz, R. M., 1996. Timing, investment opportunities, managerial discretion, and the security issue decision. Journal of Financial Economics, 42(2), pp. 159-185.10.1016/0304-405X(96)00881-1Search in Google Scholar

Kim, W. S. & Sorensen, E. H., 1986. Evidence on the Impact of the Agency Costs of Debt on Corporate Debt Policy. Journal of Financial and Quantitative Analysis, 21(2), pp. 131-144.10.2307/2330733Search in Google Scholar

MacKie-Mason, J., 1990. Do Taxes Affect Corporate Financing Decisions?. The Journal of Finance, 45(5), pp. 1471-1493.10.1111/j.1540-6261.1990.tb03724.xSearch in Google Scholar

Miller, M. H., 1988. The Modigliani-Miller Propositions After Thirty Years. Journal of Economic Perspectives, 2(4), pp. 99-120.10.1257/jep.2.4.99Search in Google Scholar

Modigliani, F. & Miller, M., 1958. The Cost of Capital, Corporation FInance, and the Theory of Investment. American Economic Review, Volume 48, pp. 261-297.Search in Google Scholar

Modigliani, F. & Miller, M., 1963. Corporate Income Taxes and the Cost of Capital: A Correction. American Economic Review, 53(3), pp. 433-443.Search in Google Scholar

Myers, S. C., 1984. The Capital Structure Puzzle. Journal of Finance, 39(3), pp. 575-592.10.2307/2327916Search in Google Scholar

Myers, S. C. & Majluf, N. S., 1984. Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have. Journal of Financial Economics, 13(2), pp. 187-221.10.1016/0304-405X(84)90023-0Search in Google Scholar

Rajan, R. R. & Zingales, L., 1995. What Do We Know about Capital Structure? Some Evidence from International Data. The Journal of Finance, 50(5), pp. 1421-1460.10.1111/j.1540-6261.1995.tb05184.xSearch in Google Scholar

Shyam-Sunder, L. & Myers, S. C., 1999. Testing static tradeoff against pecking order models of capital structure. Journal of Financial Economics, 51(2), pp. 219-244.10.1016/S0304-405X(98)00051-8Search in Google Scholar

Titman, S. & Wessels, R., 1988. The Determinants of Capital Structure Choice. The Journal of Finance, 43(1), pp. 1-19.10.1111/j.1540-6261.1988.tb02585.xSearch in Google Scholar

Zagreb Stock Exchange, 2017. ZSE-Zagrebačka burza. [Online] Available at: https://www.zse.hr/ [Accessed 2 May 2019].Search in Google Scholar