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Papers by lamia mabrouk
Corporate Ownership and Control
Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that... more Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that exists between internal stakeholders (owners, managers) and external stakeholders (donors) to the company. We study firms’ financing behaviour over life cycle stages in the context of the pecking order theory. This paper is interested in testing the relation between ownership structure, the life cycle and the funding classification in French companies in the period 2005-2014. The hypotheses tested were derived from the pecking order models and analysis was conducted on data panel with econometric software Stata. The results show that the pecking order explains the debt in French companies that are in growth phase, maturity or decline.
Corporate Ownership and Control, 2019
Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that... more Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that exists between internal stakeholders (owners, managers) and external stakeholders (donors) to the company. We study firms" financing behaviour over life cycle stages in the context of the pecking order theory. This paper is interested in testing the relation between ownership structure, the life cycle and the funding classification in French companies in the period 2005-2014. The hypotheses tested were derived from the pecking order models and analysis was conducted on data panel with econometric software Stata. The results show that the pecking order explains the debt in French companies that are in growth phase, maturity or decline.
This paper investigates the hypothesis that governance and regulation have a role in reducing ban... more This paper investigates the hypothesis that governance and regulation have a role in reducing bank risk. Our evidences are partially consistent with standard agency theory. Using a sample of Tunisian listed banks between 2000 and 2014, we show that bank risk is, influenced positively by ownership structure and negatively by regulation, which confirm our hypotheses. However, board independence and board size seem to have the opposite expected effect, which is largely inconsistent with findings in the prior literature.
Asia Pacific Journal of Innovation and Entrepreneurship
Purpose The purpose of this study is to explore at what stage of a company’s life cycle the theor... more Purpose The purpose of this study is to explore at what stage of a company’s life cycle the theory of market timing has explained debt. Drawing on a unified conceptual framework of market timing theory, the authors scrutinize the impact of life cycle and ownership structure on the market condition. Design/methodology/approach Based on a sample of 24 Tunisian companies listed on the stock exchange and 100 French firms listed on the CAC All-Tradable on a 10-year period, this paper grounded the market timing theory and attempted to clear the relation between ownership structure, life cycle of the firm and market timing theory by statistical analysis. Findings The findings of panel data modeling indicate that when the life cycle was used as an explanatory variable, it was found that the variable reflecting the market timing is not significant in either context; it means that no significant support is found in the theory of market timing in both countries. Whereas when the life cycle was...
Corporate Ownership and Control
Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that... more Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that exists between internal stakeholders (owners, managers) and external stakeholders (donors) to the company. We study firms’ financing behaviour over life cycle stages in the context of the pecking order theory. This paper is interested in testing the relation between ownership structure, the life cycle and the funding classification in French companies in the period 2005-2014. The hypotheses tested were derived from the pecking order models and analysis was conducted on data panel with econometric software Stata. The results show that the pecking order explains the debt in French companies that are in growth phase, maturity or decline.
Corporate Ownership and Control, 2019
Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that... more Contrary to the trade-off theory, pecking order theory is based on the information asymmetry that exists between internal stakeholders (owners, managers) and external stakeholders (donors) to the company. We study firms" financing behaviour over life cycle stages in the context of the pecking order theory. This paper is interested in testing the relation between ownership structure, the life cycle and the funding classification in French companies in the period 2005-2014. The hypotheses tested were derived from the pecking order models and analysis was conducted on data panel with econometric software Stata. The results show that the pecking order explains the debt in French companies that are in growth phase, maturity or decline.
This paper investigates the hypothesis that governance and regulation have a role in reducing ban... more This paper investigates the hypothesis that governance and regulation have a role in reducing bank risk. Our evidences are partially consistent with standard agency theory. Using a sample of Tunisian listed banks between 2000 and 2014, we show that bank risk is, influenced positively by ownership structure and negatively by regulation, which confirm our hypotheses. However, board independence and board size seem to have the opposite expected effect, which is largely inconsistent with findings in the prior literature.
Asia Pacific Journal of Innovation and Entrepreneurship
Purpose The purpose of this study is to explore at what stage of a company’s life cycle the theor... more Purpose The purpose of this study is to explore at what stage of a company’s life cycle the theory of market timing has explained debt. Drawing on a unified conceptual framework of market timing theory, the authors scrutinize the impact of life cycle and ownership structure on the market condition. Design/methodology/approach Based on a sample of 24 Tunisian companies listed on the stock exchange and 100 French firms listed on the CAC All-Tradable on a 10-year period, this paper grounded the market timing theory and attempted to clear the relation between ownership structure, life cycle of the firm and market timing theory by statistical analysis. Findings The findings of panel data modeling indicate that when the life cycle was used as an explanatory variable, it was found that the variable reflecting the market timing is not significant in either context; it means that no significant support is found in the theory of market timing in both countries. Whereas when the life cycle was...