Capital Structure Decisions: Which Factors Are Reliably Important?
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"Capital Structure Decisions: Which ..." refers background in this paper
...25 By way of comparison Rajan and Zingales (1995) suggest a basic model with 4 factors: tangibility, sales, market-to-book assets ratio, and profits....
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...Financially constrained versus unconstrained firms Myers (2003) has argued that “the theories are conditional, not general”....
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...Market timing, a relatively old idea (see Myers (1984)), is having a renewed surge of...
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...Myers (1984) proposed the “pecking order theory” in which there is a financing hierarchy of retained earnings, debt and then equity....
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...They directly increase the financing deficit as discussed in Shyam-Sunder and Myers (1999). These variables should therefore be positively related to debt under the pecking order theory....
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