G2TT
来源类型Discussion paper
规范类型论文
来源IDDP4225
DP4225 Creating Low-Skilled Jobs by Subsidising Market-Contracted Household Work
Klaus F. Zimmermann; John P Haisken-DeNew; Tilman Brück
发表日期2004-02-23
出版年2004
语种英语
摘要This Paper reports a new test of capital structure theories. It uses a filtering technique to identify large investment spikes. We find that the spikes are predominantly financed with debt by large firms and by new equity by small loss-making firms. In the process, firms move significantly away from their previous capital structures but then revert back to them by making frequent issues of small amounts of equity. Neither the pecking order nor the trade-off theories on their own provide satisfactory descriptions of these dynamic features of corporate financing.
主题Financial Economics
关键词Capital structure Corporate finance Pecking order Trade-off theory
URLhttps://cepr.org/publications/dp4225
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/533193
推荐引用方式
GB/T 7714
Klaus F. Zimmermann,John P Haisken-DeNew,Tilman Brück. DP4225 Creating Low-Skilled Jobs by Subsidising Market-Contracted Household Work. 2004.
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