Behavior of the Financial Structure of a Group of Spanish Companies Prior to Venture Capital Participation
January 2008
in “
Dialnet (Universidad de la Rioja)
”
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The study analyzed the financial structure behavior of 76 Spanish companies before venture capital involvement, using static trade-off and pecking order theories. Panel data methodology was employed for estimations. The findings provided evidence supporting the trade-off theory, although there was also weak support for the pecking order theory.