TITLE

Capital structure: New evidence of optimality and Pecking Order Theory

AUTHOR(S)
Ghosh, Arvin; Cai, Francis
PUB. DATE
January 1999
SOURCE
American Business Review;Jan1999, Vol. 17 Issue 1, p32
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Analyzes whether firms converge toward the optimal capital structure over time or follow the Pecking Order Theory (POT). Value of the gamma and the test statistic; Strong trend toward convergence; Summary of the asymmetric convergence by industry during 1974-1992; Results for POT preference by year during 1974-1992.
ACCESSION #
1511279

 

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