期刊名称：The International Journal of Applied Economics and Finance
印刷版ISSN：1991-0886
电子版ISSN：2077-2149
出版年度：2009
卷号：3
期号：1
页码：1-11
DOI：10.3923/ijaef.2009.1.11
出版社：Asian Network for Scientific Information
摘要：This study presents an empirical analysis of the impact of statutory minimum share capital and equity requirements, dividend restrictions and thin capitalization rules on companiesâ capital structure. The study is based on the information available from the Amadeus database in respect of a sample of companies of the EU countries. The results of the study give support to the hypothesis that companies operating in the conditions of statutory maximum dividend restrictions tend to have a lower demand for debt. The existence of thin capitalisation rules appears to decrease companiesâ debt utilization. Requirements concerning minimum share capital and equity levels do not seem to have a significant impact on companiesâ capital structure. Further econometric analysis of the above issues with the incorporation of various micro and macro level control variables would be needed to substantiate these preliminary results.
