haku: @author Levis, M. / yhteensä: 6
viite: 3 / 6
| Tekijä: | Lasfer, M. A. Levis, M. |
| Otsikko: | The determinants of the leasing decision of small and large companies |
| Lehti: | European Financial Management
1998 : JUL, VOL. 4:2, p. 159-184 |
| Asiasana: | LEASING TAXATION DEBT FINANCING GROWTH COMPANIES BY SIZE SMALL BUSINESS UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | Leasing decisions of more than 3,000 UK quoted and unquoted companies are analyzed in the paper. The sample period used is 1982-1996. It is shown that companies that use leasing are more likely to have tax losses, high fixed capital investment, high debt-to-equity ratio and to be larger than companies that do not use leasing. It is shown, however, that the determinants of leasing are not homogeneous across firms of different size. It is also shown that small firms with high Tobin's q and those that are less profitable are more likely to use leasing. |
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