发布求助
文献互助 智能选刊 最新文献

Structural Models最新文献

筛选
英文 中文
An Empirical Target Zone Model of Dynamic Capital Structure 动态资本结构的实证目标区模型
Structural Models Pub Date : 2015-02-16 DOI: 10.2139/ssrn.1787001
Arthur Korteweg, Ilya A. Strebulaev
{"title":"An Empirical Target Zone Model of Dynamic Capital Structure","authors":"Arthur Korteweg, Ilya A. Strebulaev","doi":"10.2139/ssrn.1787001","DOIUrl":"https://doi.org/10.2139/ssrn.1787001","url":null,"abstract":"We develop and estimate a general (S, s) model of capital structure to investigate the relation between target leverage, refinancing thresholds, and firm characteristics in a dynamic environment. We find that firms’ target leverage is pro-cyclical, consistent with dynamic capital structure models, but in contrast to traditional regression results. The target leverage zone, in which companies optimally allow leverage to float, widens during recessions. Most of the time series variation in capital structure policy variables is due to aggregate macroeconomic factors, rather than changes in firm-specific variables.","PeriodicalId":160230,"journal":{"name":"Structural Models","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122224859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信