Noted scholars argue that (1) economic models of capital taxation have been inadequately adapted to owner-managed enterprises and (2) capital structure researchers have used the wrong models while also improperly measuring key variables. Thus, a model that can overcome these problems should be...

Purpose – The purpose of this paper is to examine the impact of insider ownership decreases on stock returns for firms undergoing seasoned equity offerings (SEOs). Design/methodology/approach – Insider data were gathered for firms undergoing SEOs and this information used to compute the...

Purpose – The purpose of this paper is to instruct upper level business students on the intricacies of the debt-equity choice with the emphasis on showing the interrelation of this choice with the plowback-payout choice. Design/methodology/approach – The paper is designed around a...