Results 21 to 30 of about 1,210,469 (287)
Equilibrium Theory of Banks' Capital Structure [PDF]
SSRN Electronic Journal, 2017 We study an environment where the capital structure of banks and firms are jointly determined in equilibrium, so as to balance the benefits of the provision of liquidity services by bank deposits with the costs of bankruptcy. The risk in the assets held by firms and banks is determined by the technology choices by firms and the portfolio ...
GALE, Douglas, GOTTARDI, Piero
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Ambiguity and the Tradeoff Theory of Capital Structure [PDF]
SSRN Electronic Journal, 2017 We examine the impact of ambiguity, or Knightian uncertainty, on the capital structure decision, using a static tradeoff theory model in which agents are both ambiguity and risk averse. The model confirms the well-known result that greater risk—the uncertainty over outcomes—leads firms to decrease leverage. Conversely, the model indicates that greater
Yehuda Izhakian +2 more
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Relevance of Capital Structure Theories in the Service Sector
Theory, Methodology, Practice, 2017 The aim of this study is to examine the relevance of capital structure theories in the Hungarian service sector between 2008 and 2014. The service sector stands in the centre of research, as the role of this sector is becoming more and more important ...
Judit Szemán
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A causal approach to test empirical capital structure regularities
Journal of Finance and Data Science, 2022 Capital structure theories are often formulated as causal narratives to explain which factors drive financing choices. These narratives are usually examined by estimating cross–sectional relations between leverage and its determinants.
Simone Cenci, Stephen Kealhofer
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Female directors, capital structure, and financial distress
, 2021 The composition of the board of directors is highly relevant to a firm’s capital structure and likelihood of financial distress. This study builds on the complementary proposals of agency theory and gender theories based on gender-differential behavior ...
C. García, Begoña Herrero
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A regret theory of capital structure [PDF]
Finance Research Letters, 2015 Abstract This paper examines the optimal capital structure of a firm that delegates its financing decision of a risky project to a manager who is both risk averse and regret averse. Regret aversion is characterized by a utility function that includes disutility from having chosen ex-post suboptimal alternatives.
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Determinanty struktury kapitałowej w teoriach substytucji
Studia i Materiały, 2012 he goal of this article is identification and estimation of the influence of chosen determinants on corporate capital structure according to the trade-off theories (i.e. bankruptcy cost theory and agency cost theory).
Marek Barowicz
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RELEVANKAH TEORI STRUKTUR MODAL DI INDONESIA? [PDF]
Jurnal Akuntansi Multiparadigma, 2020 : Is Capital Structure Theory Relevant to Indonesia?? The purpose of this study is to examine the relevance of capital structure theory on the aspects of optimizing risk based on pecking order theory, trade-off theory, and agency theory.
Sumani +2 more
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International Journal of Finance and Economics, 2018 This study empirically tests the traditional trade‐off model against the pecking order model of capital structure using data from the Japanese listed companies on the Tokyo Stock Exchange.
Shaif Jarallah, A. Saleh, Ruhul Salim
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CAPITAL STRUCTURE THEORIES AND LEVERAGE BEHAVIOUR OF PAKISTANI FIRMS
JISR Management and Social Sciences & Economics, 2015 This study examines the applicability of two competing capital structure theories; i.e., Pecking Order Theory (POT) and Trade-Off Theory (TOT). An extensive panel dataset of 293 non-financial firms listed on the Pakistan Stock Exchange (PSX) for the ...
Saqib Sharif, Muhammad Nadeem Khan
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