) its observed leverage relative to target leverage. The results show that, in the short-run, pecking order theory has more … explanatory power in explaining the financing choices of firms. The target leverage theory assumes limited importance: Over … is reversed in the long run. Firms' long term financing goals appear to follow the leverage re-balancing theory. An …

operational risk are negatively related to leverage while size is positively related. Tangibility is found to be insignificant and …

leverage in the Brazilian agribusiness sector using the model of Rajanand Zingales (1995). In the definition of the sample …

jointhypothesis test - whether firms adjust toward target leverage, andwhether the proxy used for target leverage is the true … targetleverage. Prior studies use the time-series mean leverage for eachfirm, the industry median leverage, an estimated cross …-sectionalleverage, and a tobit estimated leverage using the factorssuggested by the static trade-off theory as proxies for the targetleverage …

joint hypothesis test - whether firms adjust toward target leverage, and whether the proxy used for target leverage is the … true target leverage. Prior studies use the time-series mean leverage for each firm, the industry median leverage, an … estimated cross-sectional leverage, and a tobit estimated leverage using the factors suggested by the static trade-off theory as …

and how this interaction is affected by ownership structure. We show that firms in our sample increase their leverage … that the leverage of these firms has a positive and significant effect on regulated prices, but not vice versa, and it also … privately-controlled firms use leverage strategically to shield themselves against regulatory opportunism. …

results. Study carried out by two of three set in the hypotheses. First, the amount of leverage and maturity there is a …

(leverage) and the term of the debt contract (debt maturity). However, little is known about the theoretical interdependence … between leverage and debt maturity. Furthermore, leverage and debt maturity are treated independently in most empirical … between leverage and debt maturity in both the Australia and the US capital markets. Our theoretical model, which builds upon …

This thesis analyses the impact of tax policy on firms' leverage ratios in a balanced panel of 129 medium-sized listed … companies from II European countries from 1993 to 2005. A general model of company leverage is applied within which King's tax … finance. Various leverage measures are studied to check for the robustness of the estimated model. Total debt is then …