Results 11 to 20 of about 5,172 (238)

Testing the pecking order theory: the importance of methodology [PDF]

Qualitative Research in Financial Markets, 2009
PurposeThe purpose of this paper is to show that different methodologies may lead to different implications about the validity of the pecking order theory.Design/methodology/approachUsing data from Greek firms as a starting‐point, the paper first investigates whether they follow the financing pattern implied by the pecking order theory and then ...
Vasiliou, D., Eriotis, N., Daskalakis, N.   +2 more
openaire   +3 more sources

Does Pecking Order Theory Hold Among Kenyan Firms? [PDF]

Journal of Economics and Business, 2020
Este estudio examinó la teoría del orden jerárquico de la estructura de capital a través de datos anuales de 37 empresas que cotizan en la Bolsa de Valores de Nairobi para el período 2011-2016. Los resultados de la estimación establecieron una relación positiva entre los cambios en la deuda y las inversiones y una relación negativa entre los cambios en
Douglas M. Wanja,, Peter W. Muriu
core   +5 more sources

The pecking order theory testing on company life cycle [PDF]

International research journal of management, IT and social sciences, 2019
This study was conducted on 49 property and real estate companies listed on the Indonesia Stock Exchange. Year of observation in this research is the year 2013-2017. Research samples of 49 property and real estate companies are grouped based on their life cycle criteria based on the company's net sales for 5 years. After the company is grouped based on
Ni Ketut Rasmini, Ida Ayu Kayika Apsari
openaire   +4 more sources

KEPUTUSAN PENDANAAN : PENDEKATAN TRADE-OFF THEORY DAN PECKING ORDER THEORY [PDF]

Jurnal Ekonomi dan Bisnis, 2009
The purpose of this study is to analyze what Trade-off Theory and Pecking Order Theory ableto explain the financing decision in Indonesian Capital Market. In this study, determinant ofTrade-off theory are non-debt tax shields, size, and liquidity. The determinant of Pecking Ordertheory are profitability, cash deficit, and investment.
MUTAMIMAH MUTAMIMAH, RITA RITA
openaire   +3 more sources

Firms’ Debt-Equity Decisions When the Static Tradeoff Theory and the Pecking Order Theory Disagree [PDF]

SSRN Electronic Journal, 2009
This paper tests the static tradeoff theory against the pecking order theory. We focus on an important difference in prediction: the static tradeoff theory argues that a firm increases leverage until it reaches its target debt ratio, while the pecking order yields debt issuance until the debt capacity is reached.
de Jong, A., Verbeek, M., Verwijmeren, P.   +2 more
openaire   +5 more sources

What drives security issuance decisions: Market timing, pecking order, or both? [PDF]

, 2012
We study market timing and pecking order in a sample of debt and equity issues and share repurchases of Canadian firms from 1998 to 2007. We find that only when firms are not financially constrained is there evidence that firms issue (repurchase) equity ...
Dong, M., Ter Horst, J., Ter Horst, J.R., Loncarski, I., Veld, C., Veld, C.H.   +5 more
core   +1 more source

Pecking Order Theory for Government Finance [PDF]

SSRN Electronic Journal, 2018
In this article we argue that asymmetric information can explain why seignorage is an inferior choice to debt for governments. We also argue that the Ricardian equivalence for governments is very similar to what the Modigliani-Miller proposition is for corporations.
openaire   +1 more source

Trade-Off Theory versus Pecking Order Theory: capital structure decisions in a peripheral region of Portugal

Journal of Business Economics and Management, 2014
This paper seeks to analyse whether the capital structure decisions of Small and Medium-Sized Enterprises (SMEs) are closer to the assumptions of Trade-Off Theory or to those of Pecking Order Theory. We use a sample of SMEs located in the interior region
Zélia Serrasqueiro, Ana Caetano
doaj   +1 more source

Relationship between Financial Flexibility and Capital Structure [PDF]

مجله دانش حسابداری, 2012
This study examines the impact of financial flexibility on firms' capital structure for the firms accepted in Tehran Stock Exchange for the period of 1378 to 1386.
Hamid Haghighat, Vahab Bashiri
doaj   +1 more source

TESTING ON PECKING ORDER THEORY AND ANALYSIS OF COMPANY’S CHARACTERISTIC EFFECTS ON EMITTEN’S CAPITAL STRUCTURE

Indonesian Journal of Business and Entrepreneurship, 2015
Pecking Order Theory (POT) states that hierarchy fundings based on the cheapest cost coming from internal fund, followed by external fund are needed to determine the capital structure.
Tajudin Noor, Bonar Sinaga, TB Nur Ahmad Maulana   +2 more
doaj   +1 more source