Download or read book Essays on Capital Structure and Trade Financing written by Klaus Hammes and published by Department of Economics School of Economics and Commercial Law Go. This book was released on 2003 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Capital Structure written by Adnan Qasim Aldayel and published by . This book was released on 1994 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure written by Andrew Hardy Roper and published by . This book was released on 2002 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Capital Structure written by Mark T. Leary and published by . This book was released on 2006 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the second chapter, which is coauthored with Michael R. Roberts, we examine the degree to which firms follow a financing hierarchy, as described by the pecking order hypothesis, in making financing decisions. To do so, we employ a new empirical model and testing strategy that provides improved statistical power relative to previous approaches. After illustrating how our approach solves this power problem, we show that the majority of firms do not adhere to the pecking order's prediction of issuing debt before equity. Further investigation reveals that violations of the pecking order do not appear to be concentrated in low information asymmetry environments or driven by limited debt capacity. Rather, the strict financing hierarchy's failure is due to its omission of other relevant considerations implied by alternative theories. When we incorporate these considerations into the model, its predictive accuracy more than doubles, correctly classifying the majority of issuance decisions in our sample. Thus, contrary to the conclusions of several recent studies, existing explanations appear to accurately characterize most financing decisions.

Download or read book Essays on Capital Structure written by Nirvalur R. Vijayaraghavan and published by . This book was released on 1986 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure Decisions written by Philipp Immenkötter and published by . This book was released on 2014 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Capital Structure written by Jing Xue and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of two essays. The first essay provides a theoretical explanation for why leverage is negatively correlated with profitability. It also examines why capital structure varies across industries as well as within one industry. The second essay examines how capital structure can be employed in mitigating the agency problems and improving the efficiency of compensation scheme to the management.

Download or read book Essays on Capital Structure and Investment written by Evan Dudley and published by . This book was released on 2008 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Voting Power Corporate Governance and Capital Structure written by Yinghong Chen and published by . This book was released on 2004 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Two Essays on Capital Structure written by Ayla Kayhan and published by . This book was released on 2004 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three essays on capital structure written by Guangzhong Li and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure written by Hossein Asgharian and published by . This book was released on 1997 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure written by Paula Castro Castro and published by . This book was released on 2015 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Control and Capital Structure written by Erik Berglöf and published by . This book was released on 1991 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure written by Eugene Nivorozhkin and published by . This book was released on 2001 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure microform written by Randall Karl Morck and published by Ann Arbor, Mich. : University Microfilms International. This book was released on 1986 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Capital Structure and Firm Investment written by Yiming Xu and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis, I study the interactions between firms' capital structure and real decisions. First, I investigate how a firm's financial leverage will impact its investment contingent on whether future growth opportunities are anticipated. Second, I test the under and over investment hypothesis related to debt financing contingent on whether the firm is likely to under or over invest. Last, I investigate how a firm's production technology can impact its production and capital structure decisions. In Chapter 1, I investigate the impact of anticipations of future growth opportunities on leverage-investment interactions. I show that when growth opportunities are unanticipated, the negative impact of leverage on investment is up to two times larger than when they are anticipated. The presence of institutional stockholdings significantly reduces the under investment problem. An instrumental variable analysis reveals that the leverage-investment relationship is weak when the problem of endogeneity is controlled. The results provide strong evidence that Canadian firms take ex ante leverage adjustments to mitigate the debt overhang problem. Chapter 2 studies the extent to which leverage-investment interactions depend on the level of initial investment as well future investment opportunities in US firms. I find a strong negative relationship between leverage and investment for firms with low levels of (initial) investment and high investment opportunities. I also find a positive relationship between leverage and investment for firms with high levels of (initial) investment and low growth opportunities. I distinguish between Tobin's Average Q and Marginal Q as proxies for firms' investment opportunities and propose a novel method to estimate Marginal Q. Chapter 3 is a joint work with Varouj Aivazian. In this chapter, we investigate the interactions between the flexibility of a firm's production and its financial structure. This chapter shows that production flexibility is an important factor explaining the cross sectional variations in financial leverage among U.S. firms. Alternative empirical measures of production flexibility are all shown to be positively associated with financial leverage. This chapter also develops a novel measure of inter-temporal production flexibility and identifies important linkages between production and financing decisions.