This paper examines the determinants of capital structure of large corporations of industrialized countries (excluding financial institutions and regulated utilities), using five years of data ending in 1992. The study employs variables reflecting differing theoretical arguments on capital...

This paper tests the mimicking propositions from signalling theory as they relate to stated firm objectives and firm performance. We classify the corporate objectives of a large sample of firms and evaluate firm performance relative to these objectives. We find that poorly performing firms more...