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Article
Publication date: 1 July 1987

Stylianos A. Sarantides

The purpose of this article is to investigate the problem of international income inequality and the growth rates of different income classes. The Myrdal thesis of the…

Abstract

The purpose of this article is to investigate the problem of international income inequality and the growth rates of different income classes. The Myrdal thesis of the cumulative process of the international mechanism of inequality is challenged. Countries which have reached a certain level of per capita income and have acquired a re‐allocative and transformative capacity grow at an accelerated pace which tends to narrow the gap between them and rich countries. The widely held view that the rich countries become richer and the poor become poorer does not hold without qualifications and further analysis.

Details

International Journal of Social Economics, vol. 14 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 5 June 2009

Dimitrios Vasiliou, Nikolaos Eriotis and Nikolaos Daskalakis

The purpose of this paper is to show that different methodologies may lead to different implications about the validity of the pecking order theory.

Abstract

Purpose

The purpose of this paper is to show that different methodologies may lead to different implications about the validity of the pecking order theory.

Design/methodology/approach

Using data from Greek firms as a starting‐point, the paper first investigates whether they follow the financing pattern implied by the pecking order theory and then illustrates that conclusions concerning the pecking order should be carefully shaped by researchers, as the methodology used can be misleading. Two different information sources are used; the first is data derived from the financial statements of the Greek firms listed in the Athens Exchange, while the second comprises the answers to a detailed questionnaire.

Findings

It is shown that a negative relationship between leverage and profitability does not necessarily mean that the pecking order financing hierarchy holds. Analysis should not rely solely on the mean‐oriented regression quantitative analysis to test the pecking order theory, as it refers to a distinct hierarchy.

Research limitations/implications

Further research should focus on investigating the reasons that underlie actual firm financing.

Practical implications

The fact that the pecking order is actually a hierarchy makes research in this field more complex. Analysts should consider this special feature of the pecking order approach when analyzing the existence of the pecking order financing pattern. The methodology followed is of crucial importance in the analysis of the existence of the pecking order financing pattern.

Originality/value

To the authors' knowledge, this is the first paper to test the pecking order pattern of financing using simultaneously quantitative and qualitative data, and to compare results and conclusions drawn from these two different types of methodology.

Details

Qualitative Research in Financial Markets, vol. 1 no. 2
Type: Research Article
ISSN: 1755-4179

Keywords

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Article
Publication date: 1 May 2000

Anghel N. Rugina

Presents the first chapter in this work with regard to the search for new ideas and better interpretations in the growth and development of new ideas. Investigates the…

Abstract

Presents the first chapter in this work with regard to the search for new ideas and better interpretations in the growth and development of new ideas. Investigates the exchange of views between thinkers of different points of view. Invites co‐operation between various factions to investigate unification of all known sciences (natural and economic) and to include the arts. Mentions all the great thinkers in these areas and unreservedly discusses their contribution in the school of thought. Proffers that modern technology cannot and should not be slowed down and that for the social economy of human solidarity should be aimed for, to begin a new era for humanity.

Details

International Journal of Social Economics, vol. 27 no. 5/6
Type: Research Article
ISSN: 0306-8293

Keywords

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