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Choix de la structure de financement et levier optimal des entreprises non financières françaises : 1988-2015

Author

Listed:
  • BOILEAU, A.
  • CAHN, C.
  • CARLUCCIO, J.
  • MAZET-SONILHAC, C.

Abstract

Cette étude analyse l’évolution du levier d’endettement des entreprises non financières en France pendant la période 1988-2015. Le levier initial joue un rôle fondamental dans la dynamique de la structure de financement au cours de la vie de l’entreprise. Les différences initiales entre les entreprises se réduisent au cours du temps, mais ne disparaissent pas : le processus de convergence est incomplet.

Suggested Citation

  • Boileau, A. & Cahn, C. & Carluccio, J. & Mazet-Sonilhac, C., 2017. "Choix de la structure de financement et levier optimal des entreprises non financières françaises : 1988-2015," Bulletin de la Banque de France, Banque de France, issue 213, pages 55-64.
    • Handle: RePEc:bfr:bullbf:2017:213:05
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    More about this item

    Keywords

    levier; structure de financement; dette; cash-flow;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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