This research aims to determine the effect of bank size (SIZE), profitability (ROA), efficiency (EFF), non-performing finance (NPF), interest (INTR), and inflation (INFL) on profit loss sharing (PLS) financing (equity financing), sale-purchase (SP) (debt financing) Islamic banks in Indonesia. Furthermore, monthly data June 2014 July 2020 was used. The autoregressive distributed lag (ARDL) method used sho...

The net foreign asset positions (NFAP) of developing countries and emerging markets tend to be short equity and either short or long debt, while most industrial nations are long equity and short debt. This paper proposes that financial system inefficiencies associated with underdeveloped financial markets can explain this difference in the NFAPs. Financial system imperfections typically found i...

The willingness to pay (WTP) for the maintenance of equity in a local ivermectin distribution scheme in the context of a community financing framework was determined in Toro, Northern Nigeria, using 214 randomly selected heads of households, or their representatives. Though WTP of the respondents for their own households was elicited, the focus of this paper is on WTP to maintain equity in a co...

This paper examines the extent to which investment financing and market-timing explanations motivate public equity offers, using a sample of 17,226 initial public offerings and 13,142 seasoned equity offerings from 38 countries between 1990 and 2003. We provide estimates of the changes in a number of accounting variables for each dollar raised in an equity offer, and for each dollar of internal...

A n entrepreneur is an individual with a project blueprint and limited wealth. If launching the project requires expenses that exceed the entrepreneur’s initial wealth, he needs outside financing. Entrepreneurs differ from “hired management” in that they are indispensable for the firm’s day-to-day operations. This is because entrepreneurs add value to companies perpetually, rather than by handi...

We estimate the sensitivity of investment to the cost of outside equity for young firms. For estimation, we exploit differences across firms in eligibility to a new tax relief program for individual outside investors in the UK. On average, investment increases 1.5% in response to a 10% drop in the cost of outside equity. This average conceals substantial heterogeneity: 1% of eligible firms issu...

The paper investigates the effects of macroeconomic conditions on firms’ capital structure. We introduce a repeated lender-borrower interaction that allows for debt and equity financing to co-exist as optimal securities in every period. The presence of asymmetric information in the market for loans is responsible for endogenous fluctuations to take place.It is possible to state sufficient condi...