This article reviews empirical capital structure research, concentrating on papers published
since 2005. We begin by documenting three dimensions of capital structure variation: cross …

While businesses require funding to start and grow, they also rely on human capital, which
affects how they raise funds. Labor market frictions make financing labor different than …

ABSTRACT I exploit the adoption of state‐level labor protection laws as an exogenous
increase in employee firing costs to examine how the costs associated with discharging …

Measuring the extent to which a firm is financially constrained is critical in assessing capital
structure. Extant measures of financial constraints focus on macro firm characteristics such …

Prior research shows that family control affects firm value through capital investment, debt
financing, M&A activities, and governance structure. This study investigates the role of …

This research is aimed to investigate the determinants of financial distress of insurance
companies in Ethiopia using balanced panel data from eleven insurance companies for the …

This paper presents evidence that firms choose conservative financial policies partly to
mitigate workers' exposure to unemployment risk. We exploit changes in state …

This paper exploits intertemporal variations in employment protection across countries and
finds that rigidities in labor markets are an important determinant of firms' capital structure …

We use novel data from a leading online job search platform to examine the impact of
corporate distress on firms' ability to attract job applicants. Survey responses suggest that …

Using a regression discontinuity design, we provide evidence that there are sharp and
substantial employment cuts following loan covenant violations, when creditors gain rights to …