This paper examines the relationships between the changes in the firm's capital structure and their effects on the firm's market value for three different levels of systematic risk. The underlying assumption of signalling is that when a firm changes its capital structure, its market value might...

This paper examines the relationships between the changes in the firm's capital structure and their effects on the firm's market value for three different levels of systematic risk. The underlying assumption of signalling is that when a firm changes its capital structure, its market value might...

This paper examines the firm growth-size and growth-learning theories using sales revenue ratios and cost ratios. The results show that: 1) the DJIA firms' focus on the short-term leads to reduced growth rates; 2) low-growth firms are characterised by increasing costs and increasing debt...