Debt Capacity and Tests of Capital Structure Theories
نویسندگان
چکیده
منابع مشابه
Debt Capacity and Tests of Capital Structure Theories
We examine the impact of explicitly incorporating a measure of debt capacity in recent tests of competing theories of capital structure. Our main results are that if external funds are required, in the absence of debt capacity concerns, debt appears to be preferred to equity. Concerns over debt capacity largely explain the use of new external equity financing by publicly traded firms. Finally, ...
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ژورنال
عنوان ژورنال: Journal of Financial and Quantitative Analysis
سال: 2010
ISSN: 0022-1090,1756-6916
DOI: 10.1017/s0022109010000499