Results 11 to 20 of about 13,735,243 (269)
Testing the Pecking Order Theory of Capital Structure [PDF]
Journal of Financial Economics, 2000 The pecking order theory of corporate leverage is tested against the static tradeoff theory of corporate leverage, using a broad cross-section of US firms over the period 1980-1998. A derivation of the conditional target adjustment framework is provided as a better empirical test of mean reversion.
Murray Z. Frank, Vidhan K. Goyal
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Testing the pecking order theory: the importance of methodology
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. +2 more
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Market Timing and Pecking Order Theory in Latin America
Revista Finanzas y Política Económica, 2021 This article aims to determine if the capital structure of Latin American companies in the emerging markets of Brazil, Chile, Mexico, and Peru, are managed according to the market timing theory or the pecking order theory. The analysis was based on a non-
Francisco Javier Vásquez Tejos +1 more
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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
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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. +2 more
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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
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The Pecking Order Theory: Evidence from Malaysia
, 2009 The pecking-order theory of capital structure, which predicts that firms prefer internal to external finance, is one of the most influential theories of corporate leverage. This study examines whether the Malaysian listed companies follow a pecking order from debt to equity.
Poon, Wei Leng
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PECKING-ORDER THEORY REVISITED: THE ROLE OF AGENCY COST
The Manchester School, 2010 Considering conflicts between shareholders and managers, we revisit the external pecking order of corporate financing under conditions of information asymmetry.
KUANG-CHENG A. WANG, CHUN-HUNG A. LIN
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Toward a Pecking Order Theory of Strategic Resource Deployment [PDF]
SSRN Electronic Journal, 2015 A premise of the capabilities perspective in strategy is that firm-specific capabilities allow some firms to be unusually adept at exploiting growth opportunities. Since few firms have the capacity to internally generate the quantity or variety of strategic resources needed to exploit growth opportunities, the ability to externally acquire ...
Schulze, William +3 more
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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. +5 more
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