Journal ArticleDOI
Corporate Choice Among Long-Term Financing Instruments
Nevins D. Baxter,John G. Cragg +1 more
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This article is published in The Review of Economics and Statistics.The article was published on 1970-08-01. It has received 132 citations till now. The article focuses on the topics: Term (time).read more
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DissertationDOI
An agricultural policy and trade model for Morocco
TL;DR: In this article, a multi-output, multi-input normalized quadratic profit function was used to derive product supply equations for crops and livestock products and variable input demand equations for fertilizer, grain feed, and other feed products.
Economic behaviour of self-employed farm producers
Abstract: This d i s s e r t a t i o n proposes a model oriented towards integrating farm households' production and consumption decisions into a u n i f i e d t h e o r e t i c a l and econometric framework. It i s argued that some commodi t i e s such as household's labour and, in some circumstances, outputs produced by the farm are traded within the household-farm unit. The implication of this i s that, i n contrast with other forms of economic organization, farm households' u t i l i t y and p r o f i t maximization decisions are not l i k e l y to be independent. Thus, the general objectives of the thesis are to develop a model appropriate to estimate farm households' supply and demand responses which e x p l i c i t l y considers the interdependence of u t i l i t y and p r o f i t maximization decisions as well as to formally test the hypothesis of independence using Canadian farm census data. A model which considers two labour supply equations, i . e . , on-farm and off-farm labour supply, and f i v e net output supply equations i n c l u d ing one aggregated output and four inputs (land and structures, hired labour, animal inputs, and farm c a p i t a l ) has been j o i n t l y estimated using Canadian farm data. The main hypotheses tested are independence of u t i l i t y and p r o f i t maximizing decisions and homotheticity of households' preferences. This i n v e s t i g a t i o n suggests that u t i l i t y and p r o f i t maximizing decisions are not independent and, moreover, that there are s i g n i f i c a n t gains i n explanatory power and e f f i c i e n c y by estimating the consumption
Journal ArticleDOI
The Spurious Ratio Problem and Its Correction: Empirical Tests of Capital Structure Theories
TL;DR: In this paper, a probit model was proposed to test capital structure theories and showed that leverage increasing firms tend to be more profitable and firms with high R&D expenditures tend not to use debt as a means of financing.
Journal ArticleDOI
Empirical investigation of investment behaviour in Australia's pastoral region*
TL;DR: In this article, the optimal intertemporal investment behaviour of Australian pastoralists is modelled using panel data for the period 1979-1993, showing that quasi-fixity of inputs of labour, capital, sheep numbers and cattle numbers is characteristic of production in the pastoral region.
Journal ArticleDOI
Leaning Against the Wind: Debt Financing in the Face of Adversity
Michael J. Brennan,Holger Kraft +1 more
TL;DR: This article found that managers who are under pressure because of unrealistically optimistic earnings expectations by analysts and deteriorating real opportunities, will rely more heavily on debt financing to boost earnings per share and return on equity.