Institutional determinants of capital structure adjustment speeds

Ö Öztekin, MJ Flannery - Journal of financial economics, 2012 - Elsevier
Many authors relate a firm's performance to legal and political features and the regulatory
environment in which it operates. This article compares firms' capital structure adjustments …

How do large banking organizations manage their capital ratios?

…, R DeYoung, MJ Flannery, D Lee, Ö Öztekin - Journal of Financial …, 2008 - Springer
US banks hold significantly more equity capital than required by their regulators. We test
competing hypotheses regarding the reasons for this “excess” capital, using an innovative …

Capital structure decisions around the world: which factors are reliably important?

Ö Öztekin - Journal of financial and quantitative analysis, 2015 - cambridge.org
This article examines the international determinants of capital structure using a large sample
of firms from 37 countries. The reliable determinants for leverage are firm size, tangibility …

The impact of COVID-19 pandemic on bank lending around the world

G Ҫolak, Ö Öztekin - Journal of Banking & Finance, 2021 - Elsevier
We evaluate the influence of the pandemic on global bank lending and identify bank and
country characteristics that amplify or weaken the effect of the disease outbreak on bank …

Firm-and country-level determinants of corporate leverage: Some new international evidence

A Gungoraydinoglu, Ö Öztekin - Journal of Corporate Finance, 2011 - Elsevier
This research analyzes the determinants of capital structure across 37 countries. Institutional
arrangements matter for capital structure decisions; however, firm-level covariates drive two …

Equity mispricing and leverage adjustment costs

…, WB Elliott, J Koëter-Kant, Ö Öztekin - Journal of financial and …, 2012 - cambridge.org
We find that equity mispricing impacts the speed at which firms adjust to their target leverage
(TL) and does so in predictable ways depending on whether the firm is over-or …

Bank capital management: International evidence

O De Jonghe, Ö Öztekin - Journal of Financial Intermediation, 2015 - Elsevier
We examine the dynamic behavior of bank capital using a global sample of 64 countries
during the 1994–2010 period. Banks achieve deleveraging primarily through equity growth …

Capital structure, equity mispricing, and stock repurchases

AA Bonaimé, Ö Öztekin, RS Warr - Journal of Corporate Finance, 2014 - Elsevier
We evaluate motives for share repurchases using a unified framework where a firm has a
target capital structure and has equity that can be mispriced. We document that capital …

Global leverage adjustments, uncertainty, and country institutional strength

G Çolak, A Gungoraydinoglu, Ö Öztekin - Journal of Financial …, 2018 - Elsevier
Using a broad range of uncertainty measures, we show that uncertainty dramatically slows
down firms' adjustments toward their optimal capital structure. At the upper bound, the …

Political environment, financial intermediation costs, and financing patterns

A Gungoraydinoglu, G Çolak, Ö Öztekin - Journal of Corporate Finance, 2017 - Elsevier
Political environment is an important determinant of financial intermediation costs, which
eventually affects the external financing patterns of firms. Political gyrations create policy …