Mihailo Paunovic

The impact of asset liquidity on leverage

Empirical evidences of privatised firms in Serbia

• Broschiertes Buch

Produktbeschreibung

This book is the research of the relationship between asset liquidity and leverage. It is applied to privatised firms in Serbia that have been privatised in 2004 though auction. For the purpose of this research, seven industries were analysed. To see whether the relationship between asset liquidity and leverage is changed when privatised firms became free to dispose their assets, the relationship between asset liquidity and leverage is examined in the first year after privatisation, while privatised firms were still under control by the Privatisation Agency and therefore their assets were securing the debt. Then the same is done in the fourth year after privatisation, when there was no control over privatised firms by the Privatisation Agency and their debt was unsecured. The main conclusion from this research is that, in most industries, the asset liquidity is not linearly related to the leverage. Moreover, in almost all industries the relationship between asset liquidity and leverage did not change in the fourth year after privatisation. Finally, in case of Serbian privatised companies, the ownership structure is not related to the leverage.

Produktdetails

• Verlag: LAP Lambert Academic Publishing
• Seitenzahl: 96
• Erscheinungstermin: 18. Januar 2013
• Englisch
• Abmessung: 220mm x 150mm x 6mm
• Gewicht: 161g
• ISBN-13: 9783659317156
• ISBN-10: 3659317152
• Artikelnr.: 39875792

Autorenporträt

Mihailo Paunovic was born in Belgrade, Serbia in 1986. He holds an MSc in Accounting, Auditing and Corporate Finance from the Faculty of Economics, University of Belgrade followed by an International MSc in Business Administration with the specialisation in Financial Management from TiasNimbas Business School, Tilburg University.