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  • Does financial flexibility enhance firm value? A comparative study between developed and emerging countries 

    Authors:Bilyay Erdoğan, Seda
    Publisher and Date:(VGTU, 2020)
    This paper investigates the effect of financial flexibility on firm value, on a comparative basis between developed and emerging countries in Europe. Our dataset covers 4,334 companies from 15 developed and 1,436 companies from 6 emerging countries in Europe for the period between 2000 and 2016. First, depending on companies’ maintenance of leverage that is below-predicted levels for a successive number of years, I identify the financially flexible companies in the sample. Second, I examine whether ...