The effect of ownership structure, country governance, and financial development on the capital structure of unlisted eastern European firms

This paper investigates the determinants of capital structure for a sample of 20,713 unlisted firms from 11 eastern European countries over the period 1994-2004. We employ usual firm-specific financial variables as well as country-specific variables that describe the degrees of governance structure and financial development of each country. Using regression analysis, our results indicate that firm ownership concentration and country governance structure are insignificant explanatory variables to the degree of leverage of the firms in our sample. On the other hand, indicators of country financial development are robust determinants of capital structure. However, the marginal explanatory power of country-specific variables is small. We conclude that firm-specific characteristics are decisive in capital structure.

Keeping it together: a guide for support staff working with people whose behaviour is challenging

This guide has been written for support staff, working with people with learning disabilities, who are new to challenging behaviour or facing it for the first time. It is a self-help guide and provides practical and realistic information on how direct care staff can develop strageties to support people whose behaviour is challenging and develop their skills in this area.