Dynamic Capital Structure Adjustment: Which estimator yields consistent and efficient estimates?
The partial adjustment model is key to a number of corporate finance research areas. The model is by its nature an autoregressive-distributed lag model that is characterised by heterogeneity among individuals and autocorrelation due to the presence of the lagged dependent variable. Finding a suitabl...
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| Format: | Article |
| Language: | English |
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AOSIS
2016-03-01
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| Series: | Journal of Economic and Financial Sciences |
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| Online Access: | https://jefjournal.org.za/index.php/jef/article/view/38 |