Stock Options and Capital Structure.

The empirical evidence on sources of corporate financing strongly suggests that firms prefer internally generated funds to debt and debt to equity in financing their investment activities. What is the economic rationale for this preference ordering or pecking order? We provide an explanation based on managerial compensation.

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Year of publication:	2001
Authors:	Macminn, R.D. ; Page, F.H.
Institutions:	Centre de recherche de mathématiques et économie mathématique (CERMSEM), Centre d'Économie de la Sorbonne
Subject:	CAPITAL MARKET \| PRICES \| FINANCING

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Series:	Papiers d'Economie Mathématique et Applications.
Type of publication:	Book / Working Paper
Notes:	34 pages
Classification:	G10 - General Financial Markets. General ; G30 - Corporate Finance and Governance. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005776510