Equity-based finance for firms

Thesis

Credit is a vital source of investment financing in most economies. Debt-based contracts allow cash-constrained firms to borrow against future profits without ceding control of their firm, using a relatively simple fixed repayment structure. However, excessive debt can lead to more fragile firms, and a misallocation of investment. While the optimal capital structure for a typical firm is likely to contain a combination of both debt and equity, most tax systems systematically discrimin...

Expand abstract

Authors: Meki, M

• DOI: 10.5287/ora-j5ypzqv6g
• Type of award: DPhil
• Level of award: Doctoral
• Awarding institution: University of Oxford
• Language: English
• Keywords: Corporate finance; Development economics; Microenterprises; Small firms in developing countries; Debt and equity finance policy; Microequity; Self-employment; Microfinance; Microcredit
• Subjects: Microfinance, microcredit, microequity; Development economics; Corporate finance, debt and equity finance policy; Microenterprises, self-employment, small firms in developing countries.