Corporate Choice Among Long-Term Financing Instruments
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Cites background or methods or result from "Corporate Choice Among Long-Term Fi..."
...8 Baxter and Cragg [4] did not restrict their study to the choice between debt and equity issues, but looked in addition at other types of security....
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...Baxter and Cragg [4] analyzed 230 security issues8 made in 1950-65 using logit and probit analysis....
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...Our focus here (following Baxter and Cragg [4], Martin and Scott [24], and Taub [42]) is simply on modelling the choice between equity and debt on those occasions when firms resort to the long term capital market....
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...See Theil [43] for an introductory discussion of logit and probit analysis, and Baxter and Cragg [4], Cragg and Baxter [13], Taub [42], and White and Turnbull [47] for applications in the finance area....
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...37 is comparable with the figures obtained by Baxter and Cragg [4]....
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