Abstract:Purpose: The article aims to analyze the impact of selected factors on the level of financial leverage in stock exchanges listed companies of the Visegrad Group, and to determine whether the direction of this impact is consistent with the assumptions of the trade-off theory or the pecking order theory. Design/methodology/approach: The analysis covered 259 non-financial companies listed in the years 1998-2020 on the stock exchanges in the Visegrad Group countries. The results of the dynamic panel econometric mo… Show more
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