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Trade-off theory and zero leverage
Finance Research Letters, 2019Abstract This paper documents that the timing of debt issuance is important to produce zero leverage in the firms’ cross-section based on the static trade-off theory. Therefore, even basics of the trade-off theory do not contradict with zero leverage, also known as the zero-leverage mystery.
Kamal Haddad, Babak Lotfaliei
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Trade-off Theory vs Pecking Order Theory Revisited
Journal of Emerging Market Finance, 2012This article empirically tests the two competing theories of capital structure: Trade-off theory against Pecking Order theory using the time series hypothesis. This study is performed for an emerging market context taking the case of Indian firms with a sample from 10 industries for the period 1990 to 2007. Our results support the evidence of trade-off
Priyanka Singh, Brajesh Kumar
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The Trade-Off Theory of Corporate Capital Structure
SSRN Electronic Journal, 2020The trade-off theory of capital structure says that corporate leverage is determined by balancing the tax-saving benefits of debt against dead-weight costs of bankruptcy. The theory was developed in the early 1970s and despite a number of important challenges, it remains the dominant theory of corporate capital structure.
Hengjie Ai, Murray Z. Frank, Ali Sanati
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Trade-off Surveys in Planning: Theory and Application
Environment and Planning A: Economy and Space, 1978We report on two innovations in survey methodology for land-use planning: The use of trade-off choices and the application of cluster analysis to the data. Cluster analysis is used to reduce the attitudinal items to significant dimensions.
D E Dowall, J B Juhasz
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Factorial designs and the theory of trade-off
Statistics & Probability Letters, 1992Abstract We consider a method to construct factorial designs with all factors at two levels and with an information matrix, pertaining to a specified model, that is equal to the information matrix for a given design. The method is based on a relation between this problem and the problem of trade-off in block designs.
Stufken, John, Wang, Kui-Jang
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Expanding population edges: theories, traits, and trade‐offs
Global Change Biology, 2016AbstractRecent patterns of global change have highlighted the importance of understanding the dynamics and mechanisms of species range shifts and expansions. Unique demographic features, spatial processes, and selective pressures can result in the accumulation and evolution of distinctive phenotypic traits at the leading edges of expansions.
Angela Chuang, Christopher R. Peterson
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Trade-Off and Pecking Order Theories of Debt
SSRN Electronic Journal, 2007Taxes, bankruptcy costs, transactions costs, adverse selection, and agency conflicts have all been advocated as major explanations for the corporate use of debt financing. These ideas have often been synthesized into the trade-off theory and the pecking order theory of leverage. These theories and the related evidence are reviewed in this survey.
Goyal, Vidhan K. FINA, Frank, Murray
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The Trade-Off Theory and the Pecking Order Theory: Are They Mutually Exclusive?
SSRN Electronic Journal, 2009The main purpose of this study is to simultaneously examine the pecking order and trade-off theories of capital structure and determine which one performs better for a sample of US firms. Our empirical models, which allow the financing coefficient and the rate of adjustment to vary with the firms' characteristics, provide evidence that the trade-off ...
Carmen Cotei, Joseph Farhat
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Bankruptcy of the Famous Trade-Off Theory
2015Within modern theory of capital cost and capital structure by Brusov–Filatova–Orekhova (Brusov and Filatova 2011; Brusov et al. 2011a, b, c, 2012a, b, 2013a, b, 2014a, b; Filatova et al. 2008), the analysis of wide-known trade-off theory has been made.
Peter Brusov +3 more
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