Information opacity leads to information asymmetry. In this situation, in providing their own financial needs, firms face limitations and inevitably provide their financial needs from the debt market by signalling private information to it. In addition, information opacity affects the leverage adjustment speed. This research investigates the effect of information opacity on deviation from targe...

We examine the differential effects of financial status and exporting activity on the likelihood of survival for firms in the UK and France two countries with different financial systems. We aim to answer two main questions: What is the direct impact of financial characteristics and different facets of exporting activity on the likelihood of survival? Do the sensitivities of survival incidence ...

Current study intended to explore the cost of financial distress for Pakistani manufacturing ongoing firms listed at KSE. In doing so, financial distress is divided into operating distress and financial but not operating distress. Sample consists of ongoing firms that were at least once in distressed counter for the period of analysis. Independent t-test, parametric and non-parametric correlati...

the importance of smes in economic growth has made them a central element in recent policies. the business environment is becoming increasingly dynamic and competitive; this change is the reason why many firms are seeking new ways to innovation. this situation has made the innovation studies in smes highly important. this paper aims to identify innovative activities, barriers to innovation and ...

Identification of influential factors of firms has always been one of the main concerns for both academics and practitioners in the realm of finance. The aim of this study is to identify the role of managers of the firms on this issue. Statistical society of this research is all the public equity firms of Tehran which are registered in Tehran Stock Exchange. The sample is 61 of those firms in d...

Since 1999 regulators have attempted to improve the monitoring of financial reporting by exerting significant pressure on firms to appoint accounting financial experts (AFEs) to their audit committees. Yet, many firms have been reluctant to do so, which has made these firms more prone to financial reporting problems. We examine appointments of AFEs to the audit committees of S&P 1500 firms duri...

Using a sample of 277 firms from eight East Asian economies, the relationship between financial distress and firm performance during the Asian Financial Crisis of 1997-1998 was tested. The crisis provides an exogenous shock which reduces the endogeneity issues between firm performance and leverage. The results from this study reaffirm that firms with low financial leverage tend to perform bette...