Capital structure and oligarch ownership

  title={Capital structure and oligarch ownership},
  author={Demid Chernenko},
  journal={Economic Change and Restructuring},
  • D. Chernenko
  • Published 2018
  • Economics, Business
  • Economic Change and Restructuring
This study examines the effects of oligarch ownership on corporate capital structures. Using panel data from Ukraine, I find that oligarch–owned companies employ significantly more debt and liabilities than their peers. However, there is no direct relation between oligarch ownership and target capital structure. Whereas the determinants of target leverage are similar across all owners, differences in firm characteristics also have a fairly small effect. I show that larger leverage is due to… Expand
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