Canarella, Giorgio; Nourayi, Mahmoud; Sullivan, Michael J. - In: Contemporary economics 8 (2014) 4, pp. 365-386
The purpose of this paper is to investigate the stochastic behavior of corporate debt ratios utilizing a balanced panel of 2,556 publicly traded US firms during the period 1997 - 2010. We partition the panel into ten economic sectors and perform panel unit root tests on each sector employing...
