financial instruments used. Some are consistent with existing theory, while others are understudied. Many leverage changes are …). This implies a lower frequency of proactive leverage adjustments than indicated by prior research using accounting data …

This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of …

of non-financial firms’ leverage carry over to banks, except for banks whose capital ratio is close to the regulatory … important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time invariant targets. …