We examined the adjustment speed of Vietnamese firms’ capital structures using a partial adjustment model. We also analyzed whether firms, depending on their characteristics, primarily use debt or equity to finance new investments. The study results revealed that adjustment speed is very slow...

In this paper, we examine the causes of the first merger boom since the late 1990s in Japan. Using industry-level data, we show that mergers and acquisitions (M&As) are driven mainly by economic shocks. While industries with higher growth opportunities are likely to have more M&A activity,...