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Pecking Order Versus Trade Off Theory and the Issue of Debt Constraint Problem?

Vigneron, Ludovic - 2012

particularly on a sample of French quoted firms. The question is which one of pecking order or trade off theory can be considered … theory dominates pecking order for constrained firms whereas pecking order dominates trade off theory for unconstrained ones … difficult to distinguish which theory better fits …

Persistent link: https://www.econbiz.de/10013101235

Firm Financing Choices in a Thin, Capital Constrained Market

Smith, David J. - 2012

This paper examines the financing choices made by New Zealand firms and the factors that influence those choices over the period 1984 to 2009. New Zealand firms are faced with relatively thin capital markets that lack scale and participation. The paper therefore provides an alternative...

Persistent link: https://www.econbiz.de/10013103458

Financing Decision Relevancy : An Empirical Evidence of Balancing Theory

2012

literature of finance. This paper examines relationship between the two, based on balancing theory. This study controls the … there is non-linear relationship between the two, as balancing theory expected. Investment opportunity and accounting return …

Persistent link: https://www.econbiz.de/10013107144

Strategic Versus Financial Investors : The Role of Strategic Objectives in Financial Contracting

Arping, Stefan - 2010

penalize poorly performing entrepreneurs by terminating their projects. Based on this tradeoff we develop a theory of financing …

Persistent link: https://www.econbiz.de/10013152818

An Application of the Two-Stage Bivariate Probit-Tobit Model to Corporate Financing Decisions

Cotei, Carmen - 2009

size of issue support the predictions of trade-off theory. The pecking order's prediction that, if external funding is …

Persistent link: https://www.econbiz.de/10013156063

Bank vs. Bond Finance : A Cultural View of Corporate Debt Financing

Breuer, Wolfgang - 2014

This study enhances the growing research field of Cultural Finance by analyzing the relationship between cultural value types – in particular Autonomy and Embeddedness – and the corporate debt choice of either bank or bond financing. We derive our hypotheses from a slight modification and...

Persistent link: https://www.econbiz.de/10013070864

Outsourcing with Debt Financing

Teixeira, João C. A. - 2013

This paper investigates the effect of capital structure on a firm's choice between vertical integration and outsourcing. We model the production decision in a Principal-Agent framework and show that suppliers use debt as a strategic instrument to collect the surplus from outsourcing as their...

Persistent link: https://www.econbiz.de/10013071834

Do Strategic Waiting Behaviors in IPO Markets Affect Firms' Subsequent Capital Structure Decisions?

Ma, Ning - 2014

To investigate whether high quality firms, which strategically wait longer in IPO market than low quality firms do (Colak & Gunay, 2011), also differ in speed of adjustment (SOA) toward target debt ratios and in debt leverage levels, this paper uses dynamic panel data with a system GMM...

Persistent link: https://www.econbiz.de/10013051491

Outsourcing with Debt Financing

Teixeira, João C. A. - 2014

Persistent link: https://www.econbiz.de/10013061270

A Survey on Corporate Financing Decision

Pokharel, Post Raj - 2022

This paper presents empirical evidence that the key executives of pharmaceutical companies perceive capital structure, debt capacity, debt measurement capacity, the limit of borrowing, and preference for capital structure. The purpose of presenting this paper is to drop some light on how the...

Persistent link: https://www.econbiz.de/10014237815

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