Free Book Online
Book Empirical Capital Structure (Foundations and Trends in Finance)

Pdf

Empirical Capital Structure (Foundations and Trends in Finance)

2.5 (2198)

Log in to rate this item

    Available in PDF - DJVU Format | Empirical Capital Structure (Foundations and Trends in Finance).pdf | Language: ENGLISH
    Christopher Parson (Author), Sheridan Titman (Author)

    Book details


The firm':s capital structure - how it funds operations by raising capital from a variety of sources -- has attracted considerable attention from both academics and practitioners. The empirical capital structure literature explores both the cross-sectional determinants of capital structure as well as time-series changes. Empirical Capital Structure reviews both aspects of this literature. Empirical Capital Structure is organized around a simple framework that contains three key ingredients: ·: the costs and benefits that determine a firm':s capital structure ·: the existence of shocks that cause firms to deviate, at least temporarily, from their targets. ·: the presence of factors that may prevent firms from constantly maintaining debt ratios that match their targets. Empirical Capital Structure is organized as follows. Section II discusses specification and econometric issues that will be important for many of the tests considered. Section III reviews cross-sectional capital structure determinants. Section IV explores factors that pull firms away from their leverage targets. Section V discusses reasons why firms might not immediately reverse the effect of these leverage shocks, apparently allowing deviations from their targets to persist for extended periods of time. Section VI explores a group of studies that look at how leverage feeds back into a firm':s real business decisions. Finally, Section VII concludes and provides suggestions for new research.
3.2 (6376)
  • Pdf

*An electronic version of a printed book that can be read on a computer or handheld device designed specifically for this purpose.

Formats for this Ebook

PDF
Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch.
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes

Book details

Read online or download a free book: Empirical Capital Structure (Foundations and Trends in Finance)

 

Review Text


Name:
Email*:
The message text*: