One of the central debates in the empirical capital structure literature is the issue of capital structure stability. The purpose of this study is to examine the debate in the Nigerian context where it is largely an underexplored issue. This study employed the traditional leverage adjustment...

One of the central debates in the empirical capital structure literature is the issue of capital structure stability. The purpose of this study is to examine the debate in the Nigerian context where it is largely an underexplored issue. This study employed the traditional leverage adjustment...

We examine three tools that can enhance coordination success in a repeated multiple-choice coordination game. Gradualism means that the game starts as an easy coordination problem and moves gradually to a more difficult one. The Endogenous Ascending mechanism implies that a gradual increase in...

This study examines the divide between finance theory and practice by analysing thesignificance of the determinants of capital structure choice among 123 listed firms on the JSE, todetermine whether these firms follow the trade-off theory or the pecking-order theory.Data obtained from...