Pindado, Julio; Bastos, Rafael - Programa Interuniversitario de Doctorado en Nuevas … - 2005
also tested and compared with the proposed model. We did not find evidence to support tax theory or to support the … operational argument of transaction cost theory. We find weak evidence to support the liquidity theory, while the asymmetric … information theory was confirmed. A comparison between the agency model proposed and traditional models concluded that the Agency …