ISBN: 9781333264765 - testing static trade-off pecking order models of capital structure (classic reprint) (3 Ergebnisse)

PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000.

PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000.

Paperback. Zustand: New. Print on Demand. In this book, the author devises a rigorous method for testing two competing theories of capital structure, the static trade-off theory and the pecking order model. These tests provide conclusive evidence in favor of the pecking order model, demonstrating that debt ratios are primarily driven by the internal financial deficit of a firm as opposed to an optimal debt ratio. The author challenges conventional wisdom by exposing the weaknesses of standard target adjustment models and highlights the superiority of the pecking order model in explaining the dynamics of capital structure. This book offers significant theoretical and empirical contributions to the field of corporate finance, providing valuable insights for academics, practitioners, and students seeking a deeper understanding of debt policy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.…