1 PhD, Researcher, Faculty of Economics, Sapienza University, Rome, Italy.

Article Id - 10120140503001, Pages : 1-20, Date of Publication : 05, March 2014

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Financing choices are one of the most critical decision for management by influencing the firm’s behaviour as well as its economic performance and value. Based on the researches of Abor (2005) and Gill, Biger and Mathur (2011) the paper is a moderate attempt to understand the relationship between capital structure and economic performance of Italian large, medium and small firms in manufacturing and service industry listed in Italian Stock Exchange in a period of 5 years (from 2007 to 2011). The analysis found a significant relationship between economic performance of the firm and its financial debt but with non-unique direction. A positive correlation was found in the medium manufacturing firms (between i) ROE and total, long-term and short-term financial debt to total assets; ii) ROA and total and short-term financial debt to total assets; iii) ROI and short-term financial debt to total assets), in the large service firms (between i) ROA and total financial debt to total assets; ii) ROI and long-term financial debt to total assets) and in the small service firms (between ROE and total and short-term financial debt to total assets). Differently a negative correlation was found in the large manufacturing firms (between i) ROE, ROA and short-term financial debt to total assets; ii) ROI and total and long-term financial debt to total assets), in the small manufacturing firms (between ROE and total and short-term financial debt to total assets) and in the large and small service firms (between ROI and short-term financial debt to total assets). In medium service firms were not found correlations.


Financing Choices , Financial Debt , Capital Structure

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A conclusion section must be included and should indicate clearly the advantages, limitations, and possible applications of the paper. Although a conclusion may review the main points of the paper, do not replicate the abstract as the conclusion. A conclusion might elaborate on the importance of the work or suggest applications and extentions. (12)


An acknowledgement section may be presented after the conclusion, if desired.( 12)


This heading is not assigned a number.

A reference list MUST be included using the following information as a guide. Only cited text references are included. Each reference is referred to in the text by a number enclosed in a square bracket (i.e., [3]). References must be numbered and ordered according to where they are first mentioned in the paper, NOT alphabetically.

Examples follow:

ournal Papers:

[1] M Ozaki, Y. Adachi, Y. Iwahori, and N. Ishii, Application of fuzzy theory to writer recognition of Chinese characters, International Journal of Modelling and Simulation, 18(2), 1998, 112-116. (12)


[2] R.E. Moore, Interval analysis (Englewood Cliffs, NJ: Prentice-Hall, 1966). (12) Note that the title of the book is in lower case letters and italicized. There is no comma following the title. Place of publication and publisher are given.

Chapters in Books:

[3] P.O. Bishop, Neurophysiology of binocular vision, in J.Houseman (Ed.), Handbook of physiology, 4 (New York: Springer-Verlag, 1970) 342-366. (12) Note that the place of publication, publisher, and year of publication are enclosed in brackets. Editor of book is listed before book title.


[4] D.S. Chan, Theory and implementation of multidimensional discrete systems for signal processing, doctoral diss., Massachusetts Institute of Technology, Cambridge, MA, 1978. (12)

Proceedings Papers:

[5] W.J. Book, Modelling design and control of flexible manipulator arms: A tutorial review, Proc. 29th IEEE Conf. on Decision and Control, San Francisco, CA, 1990, 500-506 (12)

Manuscripts not adhering to journal guidelines will be returned to authors without scientific evaluation. Submitted manuscripts adhering to journal guidelines are reviewed by the Editor-in-Chief or an Editor, who will assign them to reviewers. The review process is double blind. The Editor prepares a decision letter according to the comments of the reviewers, which is sent to the corresponding author. All non-reviewed manuscripts are sent back within 10 days and the decision letters of manuscripts are sent within 4 weeks.
Open Access authors retain the copyrights of their papers, and all open access articles are distributed under the terms of the Creative Commons Attribution License, CC BY (or the Creative Commons Attribution-NonCommercial License CC BY-NC), which allows users to (noncommercially) copy, use, distribute, transmit and display the work publicly and to make and distribute derivative works, in any digital medium for any responsible purpose, subject to proper attribution of authorship.
The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.
While the advice and information in this journal are believed to be true and accurate on the date of its going to press, neither the authors, the editors, nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein.
IAEME Publication is committed to maintaining high standards through a rigorous peer-review together with strict ethical policies. Any infringements of professional ethical codes, such as plagiarism, fraudulent use of data, bogus claims of authorship, should be taken very seriously by the editors with zero tolerance..
IAEME Publication follows the Code of Conduct of the Committee on Publication Ethics (COPE), and follows the COPE Flowcharts for Resolving Cases of Suspected Misconduct.
Please find more general information for authors on the page: Information for Authors.

IAEME Publication Fees

IAEME Publication charges an Article Processing Charge (APC) once an article is accepted for publication. These charges cover the costs of turning a manuscript into a finished article, as well as the costs of hosting, distributing and promoting an article.

Article Processing Charges explained

We are committed to making the costs of publishing as clear as possible and so the charges for each journal are clearly displayed on each journal`s homepage.

When a manuscript is submitted, it passes through the many different departments at Hindawi to ensure the quality checks, peer review, production and promotion of articles is carried out in a timely manner and to a high standard:

✔ The Editorial Screening team, who perform initial technical and ethical checks

✔ The Editorial team, who help the journal`s Academic Editors manage the review process

✔ The Production team, who convert the manuscript to a professionally typeset article and well-structured file format

✔ The Proofing team, who coordinate the proofing process through Hindawi`s Online Proofing System (OPS)

✔ The Editorial Quality Assurance team, who perform a final check to ensure that the manuscript and its review process adhere to the journal`s guidelines and policies

✔ Our Marketing and Communication teams, who ensure your article receives the attention it deserves.

✔ The Technology team, who build and maintain our systems, and develop new systems

The work these teams do contribute to the requirement of an APC and is why the actual amount payable varies depending on the journal in which you wish to publish your article.

IAEME Publication does not request Article Submission Charges, also called Submission Fees. These are due at the time of submission of the manuscript. Nor does IAEME charge per page or for color figures or for any other items for which other publishers are known to charge.

Sources for Article Processing Charges (APC)

Authors of an article are responsible for arranging the payment of APC. Still, that typically does not mean that authors end up paying for the publication of the article. The cost of APC is very often assumed either by the organization funding the research published in the article, or by an Open Access Publishing Fund, or by the institution at which the author is employed.

Fair Dealing - Authors and Publisher

When an author submits a manuscript for review at one of IAEME`s journals, the submitted manuscript should not have been previously published in any form and must not be currently under consideration for publication elsewhere. The manuscript should also not be submitted to any other journal during the review process at IAEME Publication. In case the review process at IAEME takes much longer than stated and the author wishes to end the review process at IAEME, he/she should get in contact with the Editorial Assistant of the journal at IAEME and come to an agreement suitable for both sides after looking at the stage of the manuscript in the review process.

With the APC specified above, the author is given an indication what the APC will be. IAEME is charging Publication Fees (APC) but not Submission Fees. This is to the benefit to authors because payments are only due once the author knows the manuscript is accepted. IAEME with editors and reviewers puts much effort in dealing with the manuscript and expects the authors to stick to the common plan of publishing the paper which is linked to payments of APC as given above at the end of the review process. The author is not legally bound at this time, but it would be seen as a strong breach of academic conduct to back off from the publication process. Once the manuscript is accepted for publication, IAEME will issue an invoice in the Paper Submission and Manuscript Tracking System. This is IAEME `s legal offer and will state the regular APC of the journal. The Corresponding Author is expected to arrange payments of the amount stated at this time. In severe cases IAEME `s Complaints Procedure can be followed and the result of this should be binding to the author.

Refund Policy

Once an article has been accepted for publication, any Article Processing Charges on the article become due. The submitting author accepts responsibility for the Article Processing Charges, and will not issue refunds of any kind except those payments made by mistake or in excess of the amount required.

Subject Area
The topics to be covered by this journal include but are not limited to the following fields:

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• English

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IJM Journal Stats

Publication years 2010-2023
Publication count 4681
Total Volumes 14
Total Issues 104
Downloads 258391
Views 700863
Downloads/article 55.2

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