Essays on labour contract flexibility and corporate finance in Belgian SMEs.

* <(><<)>p>Employment protection legislation is defined as any legal rule that imposes hiring and firin g costs on employees. Firms that are subject to le ss restrictive employment protection rules can be argued to be more flexible in terms of labour contracts. This flexibility may allow these firms to adjust more efficiently to changing circumstances. The lower operationa l leverage levels of flexible firms may also enable them to take on more financial debt. This research examine s the impact of labour contract flexibility o n Belgian small and medium-sized firms.= <(>&<)>uml; More specifically, we examine whether labour<(>&<)>uml; flexibili decisions or lik elihood of failure.<(><<)>/p>

Trefwoorden:SMEs, Employment Protection Legislation Perfor, Finance, Law, Legal Origin

Project type:PhD project