Debt level and company efficiency: independence or implication? An evaluation of fuzzy implications

Abstract

This paper suggests a way of measuring the strength of an implica- tion to evaluate the influence of the financing structure chosen by company on its effi- ciency and profitability. The first part describes the semantics of the fuzzy implication applied to continuous variables. The results of three single implication measurements between two criteria are then analyzed on a sample population of 140 companies.