An alternative test of the trade-off theory of capital structure
The purpose of this paper is to investigate the stochastic behavior of corporate debt ratios utilizing a balanced panel of 2,556 publicly traded U.S. firms during the period 1997-2010. We partition the panel into ten economic sectors and perform panel unit root tests on each sector employing book v...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Economics and Human Sciences in Warsaw
2014-12-01
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| Series: | Contemporary Economics |
| Online Access: | http://ce.vizja.pl/en/download-pdf/id/378 |