Are corporates' target leverage ratios time-dependent?
نویسندگان
چکیده
منابع مشابه
Are corporates ’ target leverage ratios time - dependent ?
This paper extends the stationary-leverage-ratio model to incorporate a time-dependent target leverage ratio. The theoretical hypothesis of the existence of a time-dependent target leverage ratio reflects the movement of a firm’s initial target ratio toward a long-term target ratio over time. Using some simple scenarios about the time-dependence of the target leverage ratio, the numerical resul...
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ژورنال
عنوان ژورنال: International Review of Financial Analysis
سال: 2006
ISSN: 1057-5219
DOI: 10.1016/j.irfa.2005.01.001