Uyar, Ali; Guzelyurt, Mustafa Kemal - In: Managerial Finance 41 (2015) 3, pp. 286-300
surveyed firms do not follow a target debt ratio. Hence, the trade-off theory is not supported. Partners rather than …-term debt over long-term debt. Thus, the pecking order theory is supported. General economic conditions, debt-paying ability of …