From profits to funding: an empirical study of how profitability influences short-term and long-term financing decisions in Italian manufacturing SMEs
Quaranta, Marco (A.A. 2023/2024) From profits to funding: an empirical study of how profitability influences short-term and long-term financing decisions in Italian manufacturing SMEs. Tesi di Laurea in Advanced corporate finance, Luiss Guido Carli, relatore Pierluigi Murro, pp. 110. [Master's Degree Thesis]
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Abstract/Index
Capital structure, theories & empirical evidence. Capital structure definition. Modigliani e miller theory. Looking for the optimal capital structure: the tradeoff theory. The pecking order theory. Market timing theory and the role of asymmetric information. Capital structure theories: the follow-up. Empirical evidence: the determinants of capital structure. Literature and empirical evidence of SMEs capital structure. An unconventional definition of SME: beyond the European Commission's definition. The significance of small and medium-sized enterprises (SMEs) in Europe and Italy. The persistent problem of SMEs: difficulties in accessing financing. SMEs intrinsic factors affecting capital structure. SMEs factors affecting funding mechanism: between market imperfections and social-behavioral characteristics. How SMEs can finance their operations. The role of private information and relationship lending: overcoming information opacity. Empirical evidence & new research trend on SMEs capital structure. Methodology, data source & research questions. Purpose of thesis, problem discussion and research question. Data sample and methodology. Description of variables: profitability and indebtedness. Statistical models and techniques used for analysis. Statistical validation: heteroscedasticity & autocorrelation test. Economic and financial interpretation.
References
Bibliografia: pp. 102-110.
| Thesis Type: | Master's Degree Thesis |
|---|---|
| Institution: | Luiss Guido Carli |
| Degree Program: | Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77) |
| Chair: | Advanced corporate finance |
| Thesis Supervisor: | Murro, Pierluigi |
| Thesis Co-Supervisor: | Santella, Rosella |
| Academic Year: | 2023/2024 |
| Session: | Autumn |
| Deposited by: | Alessandro Perfetti |
| Date Deposited: | 29 Apr 2025 12:16 |
| Last Modified: | 29 Apr 2025 12:16 |
| URI: | https://tesi.luiss.it/id/eprint/41893 |
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