Previous research found that capital structure affects performance when it is adapted to the level of environmental dynamism and pursuit of an innovation strategy. The current study reproduces some of these relationships in a more recent dataset but also identifies significant nuances across industrial environments. Analyses of a large cross sectional sample and various industry sub-samples suggest that other factors have influenced capital structure effects in recent years including flexibilities in multinational organization and effective strategic risk management capabilities.
|Place of Publication||København|
|Publisher||Center for Strategic Management and Globalization|
|Number of pages||32|
|Publication status||Published - Sep 2005|
|Series||SMG Working Paper|
- Financial leverage
- Real options