Empirical Capital Structure

A Review

By: Christopher Parson, Sheridan Titman

Write A Review

Paperback | 6 March 2009

Sorry, we are not able to source the book you are looking for right now.

We did a search for other books with a similar title, however there were no matches. You can try selecting from a similar category, click on the author's name, or use the search box above to find your book.

The firm's capital structure - how it funds operations by raising capital from a variety of sources - has attracted considerable attention from both academics and practitioners. The empirical capital structure literature explores both the cross-sectional determinants of capital structure as well as time-series changes. Empirical Capital Structure reviews both aspects of this literature.

The book is organized around a simple framework that contains three key ingredients: the costs and benefits that determine a firm's capital structure; the existence of shocks that cause firms to deviate, at least temporarily, from their targets; the presence of factors that may prevent firms from constantly maintaining debt ratios that match their targets.

Empirical Capital Structure is organized as follows:

Section II discusses specification and econometric issues that will be important for many of the tests considered.
Section III reviews cross-sectional capital structure determinants.
Section IV explores factors that pull firms away from their leverage targets.
Section V discusses reasons why firms might not immediately reverse the effect of these leverage shocks, apparently allowing deviations from their targets to persist for extended periods of time.
Section VI explores a group of studies that look at how leverage feeds back into a firm's real business decisions.
Section VII concludes and provides suggestions for new research.

Shipping

	Standard Shipping	Express Shipping
Metro postcodes:	$9.99	$14.95
Regional postcodes:	$9.99	$14.95
Rural postcodes:	$9.99	$14.95

Orders over $79.00 qualify for free shipping.

How to return your order

At Booktopia, we offer hassle-free returns in accordance with our returns policy. If you wish to return an item, please get in touch with Booktopia Customer Care.

Additional postage charges may be applicable.