{"id":"https://openalex.org/W2245140198","doi":null,"title":"The hidden value behind capital structure decisions","display_name":"The hidden value behind capital structure decisions","publication_year":2009,"publication_date":"2009-06-01","ids":{"openalex":"https://openalex.org/W2245140198","mag":"2245140198"},"language":"en","primary_location":{"id":"pmh:oai:run.unl.pt:10362/9476","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10362/9476","pdf_url":"https://run.unl.pt/bitstreams/763d82f0-8392-4443-9240-43ec72e478ee/download","source":{"id":"https://openalex.org/S4306402433","display_name":"Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"master thesis"},"volume":null,"type":"dissertation","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://run.unl.pt/bitstreams/763d82f0-8392-4443-9240-43ec72e478ee/download","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5006464397","display_name":"Carlos Afonso Bi Fran\u00e7a e Silva","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Carlos Afonso Bi Fran\u00e7a e Silva","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5006464397"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8237000107765198,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8237000107765198,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.06379999965429306,"subfield":{"id":"https://openalex.org/subfields/3308","display_name":"Law"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.06040000170469284,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/optimal-capital-structure","display_name":"optimal capital structure","score":0.9380000233650208},{"id":"https://openalex.org/keywords/growth-firms","display_name":"growth companies","score":0.8600000143051147},{"id":"https://openalex.org/keywords/corporate-taxation","display_name":"corporate taxation","score":0.6600000262260437},{"id":"https://openalex.org/keywords/bankruptcy","display_name":"bankruptcy","score":0.6449999809265137},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.6790000200271606},{"id":"https://openalex.org/keywords/refinancing","display_name":"refinancing","score":0.8090000152587891},{"id":"https://openalex.org/keywords/r-d-investment","display_name":"R&D investment","score":0.6990000009536743},{"id":"https://openalex.org/keywords/business-start-up","display_name":"startups","score":0.8059999942779541},{"id":"https://openalex.org/keywords/trade-off-theory","display_name":"trade-off theory","score":0.7490000128746033},{"id":"https://openalex.org/keywords/volatility","display_name":"volatility","score":0.34299999475479126},{"id":"https://openalex.org/keywords/welfare-effects","display_name":"welfare effects","score":0.625}],"concepts":[{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.6428573727607727},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.5149103403091431},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3491605520248413},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.23397070169448853},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.17262208461761475},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.12993964552879333},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:run.unl.pt:10362/9476","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10362/9476","pdf_url":"https://run.unl.pt/bitstreams/763d82f0-8392-4443-9240-43ec72e478ee/download","source":{"id":"https://openalex.org/S4306402433","display_name":"Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"master thesis"},{"id":"pmh:oai:run.unl.pt:10362/206062","doi":null,"is_oa":true,"landing_page_url":"https://run.unl.pt/items/f88bc7a9-293f-4949-96dc-bac7fbe96fab/request-a-copy?bitstream=011772af-0ab6-4128-9f4d-5e21912da18d","pdf_url":null,"source":{"id":"https://openalex.org/S4306402433","display_name":"Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"master thesis"},{"id":"mag:2245140198","doi":null,"is_oa":false,"landing_page_url":"https://run.unl.pt/bitstream/10362/9476/1/Silva_2009.pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:run.unl.pt:10362/9476","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10362/9476","pdf_url":"https://run.unl.pt/bitstreams/763d82f0-8392-4443-9240-43ec72e478ee/download","source":{"id":"https://openalex.org/S4306402433","display_name":"Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"master thesis"},"sustainable_development_goals":[{"score":0.48510000109672546,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2245140198.pdf","grobid_xml":"https://content.openalex.org/works/W2245140198.grobid-xml"},"referenced_works_count":48,"referenced_works":["https://openalex.org/W267438485","https://openalex.org/W1481992473","https://openalex.org/W1494703832","https://openalex.org/W1500688562","https://openalex.org/W1546993880","https://openalex.org/W1587350794","https://openalex.org/W1900872395","https://openalex.org/W1975289541","https://openalex.org/W2017368346","https://openalex.org/W2020970716","https://openalex.org/W2051614424","https://openalex.org/W2081113003","https://openalex.org/W2104640390","https://openalex.org/W2107291509","https://openalex.org/W2108817771","https://openalex.org/W2109360003","https://openalex.org/W2110352084","https://openalex.org/W2112675628","https://openalex.org/W2115846503","https://openalex.org/W2116844904","https://openalex.org/W2122479412","https://openalex.org/W2122529435","https://openalex.org/W2124597406","https://openalex.org/W2125232828","https://openalex.org/W2125664626","https://openalex.org/W2126311658","https://openalex.org/W2136122167","https://openalex.org/W2145143570","https://openalex.org/W2146880834","https://openalex.org/W2153524047","https://openalex.org/W2154332049","https://openalex.org/W2164426272","https://openalex.org/W2170790204","https://openalex.org/W2273268801","https://openalex.org/W2752617332","https://openalex.org/W3121131820","https://openalex.org/W3122398884","https://openalex.org/W3122588284","https://openalex.org/W3122589234","https://openalex.org/W3122675431","https://openalex.org/W3123014546","https://openalex.org/W3123206484","https://openalex.org/W3123527067","https://openalex.org/W3124114405","https://openalex.org/W3124403080","https://openalex.org/W3124450204","https://openalex.org/W3125372646","https://openalex.org/W3125649628"],"related_works":["https://openalex.org/W2610794733","https://openalex.org/W3098962227","https://openalex.org/W3200770481","https://openalex.org/W3162545148","https://openalex.org/W2744667899","https://openalex.org/W2266091798","https://openalex.org/W7098546994","https://openalex.org/W591921386","https://openalex.org/W1772051421","https://openalex.org/W3122139893"],"abstract_inverted_index":{"I":[0,21,51,76,108,128],"estimate":[1],"the":[2,23,45,70,80,83,110,130,138,143,146,149,166],"optimal":[3,150],"capital":[4,73,151,171],"structure":[5,152,172],"for":[6,10,69,97,125,154],"a":[7,53,118,133,155],"growth":[8,175],"company,":[9],"which":[11],"market":[12,46],"value":[13,47,57,81,144],"is":[14],"dictated":[15],"by":[16],"its":[17,89],"highly":[18,95],"volatile":[19],"nature.":[20],"study":[22,131],"welfare":[24,106],"impact":[25,139],"of":[26,33,48,56,72,82,112,122,140,145,157,168],"corporate":[27],"taxes,":[28],"analyzing":[29],"their":[30],"economic":[31],"effect":[32],"inducing":[34],"higher":[35],"bankruptcy":[36],"levels.":[37],"Assuming":[38],"that":[39,58,164],"management":[40],"always":[41],"seeks":[42],"to":[43,142,174],"optimize":[44],"company\u2019s":[49],"assets,":[50],"find":[52,117],"significant":[54,96,105],"loss":[55],"varies":[59],"negatively":[60],"with":[61,132],"volatility.":[62],"Flow":[63],"and":[64,75,99,114,116,148,170],"stock":[65],"insolvency":[66],"are":[67,92],"important":[68,120],"maximization":[71],"structure,":[74],"compare":[77,109],"both,":[78],"modeling":[79],"company":[84],"as":[85],"an":[86],"option":[87],"on":[88],"revenues.":[90],"These":[91],"not":[93],"only":[94],"R&D":[98,126],"startup":[100],"companies":[101],"but":[102],"also":[103],"have":[104],"consequences.":[107],"options":[111],"liquidation":[113,124],"re-financing":[115],"clearly":[119],"role":[121],"early":[123],"frameworks.":[127],"complement":[129],"comparative":[134],"statics":[135],"analysis":[136],"estimating":[137],"risk":[141],"firm":[147],"decision,":[153],"cross-section":[156],"firms.":[158],"The":[159],"results":[160],"present":[161],"quantitative":[162],"evidence":[163],"reinforce":[165],"literature":[167],"trade-off":[169],"applied":[173],"companies.":[176]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
