Krištofík, Peter, 1971- Capital structure determinants of wood-processing enterprises in Slovakia / Peter Krištofík, Juraj Medzihorský. -- Tab. -- Lit. - Capital structure has been widely discussed, but there is still a lack of industry-oriented empirical studies of Slovak enterprises focusing on this topic. The aim of the paper is to identify significant capital structure determinants of wood-processing enterprises in Slovakia, and their comparison with the determinants in other industries worldwide. Applying panel regression, in the years 2016-2019, we found evidence for the negative relation between leverage and profitability, growth opportunities, cash, respectively. But most of these relations were disturbed during the crisis in 2020. Some evidence of a negative relation between leverage and size occurred only in the crisis period. There is only a partial confirmation of several capital structure theories. Pecking-order theory corresponds to the debt-equity choice of Slovak wood-processing enterprises best. When comparing empirical capital structure determinants with other industries and countries, the most similar to our sample seems to be the food and beverages industry in Indonesia. Our paper is the first one, which reveals relations between leverage and its determinants of Slovak wood-processing enterprises that support a need for next studies focusing on similar topics.

In Acta Facultatis Xylologiae Zvolen : vedecký časopis Drevárskej fakulty. -- Zvolen : Technická univerzita vo Zvolene, 2022. -- ISSN 1336-3824. -- Vol. 64, no. 1 (2022), s. 135-146

1. Slovensko

I. Medzihorský, Juraj
II. Acta Facultatis Xylologiae Zvolen : vedecký časopis Drevárskej fakulty. -- Vol. 64, no. 1 (2022), s. 135-146

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