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La structure financière des entreprises en Europe : une investigation empirique de la neutralité du bilan

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  • Elisabeth Paulet

Abstract

Financial liberalisation has led to a large increase in the number of sources of finance for companies. The question is whether all companies have access to these various instruments. The aim of this article is to identify these characteristics as a function of size of company for the European countries. Following a survey of the literature, we go on to examine the determinants of the financial structure of European companies (Part I). Using the Biais, Hillion et Malécot (1995) model, we then examine in Part II the breakdown between these various sources of finance from 1989 to 1998. Finally, we enquire into the complementarity or substitutability of these various methods as a function of the size of company (Part III). Part IV sets out the conclusions.

Suggested Citation

  • Elisabeth Paulet, 2003. "La structure financière des entreprises en Europe : une investigation empirique de la neutralité du bilan," Economie & Prévision, La Documentation Française, vol. 157(1), pages 71-82.
    • Handle: RePEc:cai:ecoldc:ecop_157_0071
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    Cited by:

    1. Rivaud-Danset, Dorothée & Oheix, Valérie, 2005. "Do corporate financial patterns in European countries converge and testitfy for disintermediation?," MPRA Paper 40, University Library of Munich, Germany.

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