Capital structure of Internet companies: case study

Miglo, A. , Lee, Z. and Liang, S. (2014) Capital structure of Internet companies: case study. Journal of Internet Commerce, 13(3-4), pp. 253-281. (doi: 10.1080/15332861.2014.961348)

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The financing decisions and capital structure of Internet companies are analyzed, and observed findings are related to the common capital structure theories. Large Internet companies usually have low debt, and small Internet companies have high debt. It was found that the trade-off theory of capital structure, pecking order theory, market timing theory, and other theories cannot individually explain a firm's capital structure. However, they can complement each other in describing some patterns of observed behavior. A number of recommendations for capital structure theory and practice are suggested.

Item Type:Articles
Glasgow Author(s) Enlighten ID:Miglo, Dr Anton
Authors: Miglo, A., Lee, Z., and Liang, S.
College/School:College of Social Sciences > Adam Smith Business School > Accounting and Finance
Journal Name:Journal of Internet Commerce
Publisher:Taylor & Francis
ISSN (Online):1533-287X
Published Online:16 October 2014

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