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Capital Structure dicisions: Which facrors are reliably important?…
Capital Structure dicisions: Which facrors are reliably important?
Capital Structure Theories and their Predictions
Capital Structure theories
Pecking Order Theory
Market-timing Theory
Trade-off theory
Predictions
Leverage and firm size
Leverage and growth
Leverage and Profitability
Leverage and Industry conditions
Leverage and Nature of assets
Leverage and taxes
Leverage and Macroecomic conditions
Leverage and debt market conditions
Leverage and stock market conditions
Leverage and Supply-side factors
Leverage and Risk
Data Description
Descriptive statistics
Defining leverage
Empirical evidence on factor selection
Financially Constrained versus Unconstrained firms
Parameter Estimates for the core leverage model
Reintroducing the Minor factors
Caveats
Adjusting for missing data
Conclusion
Introduction