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Stratégies de diversification et structure du capital

Abstract : This paper proposes a financial structure model taking into account corporate diversification strategies. A switching regression model allows to study the effect of dependant variables on capital structure depending on the strategies followed by the firms. The evidence shows that these switching regressions model enhance significantly the quality of the model. The evidence also points out possible agency costs associated with industrial diversification, whereas industrial focused firms, even internationally diversified, are not associated with such costs
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Contributor : Dominique Maraine-Scipanov Connect in order to contact the contributor
Submitted on : Friday, April 9, 2010 - 4:19:26 PM
Last modification on : Tuesday, October 19, 2021 - 11:34:03 PM


  • HAL Id : halshs-00472172, version 1


Florence André-Le Pogamp, Frédéric Perdreau. Stratégies de diversification et structure du capital. Finance Contrôle Stratégie, Association FCS, 2009, pp.5-38. ⟨halshs-00472172⟩



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