The Pecking Order and Financing Decisions: Evidence From Changes to Financial-Reporting Regulation
We use the staggered introduction of a major financial-reporting regulation worldwide to study whether firms make financing decisions consistent with the pecking order theory. Exploiting cross-country and within country-year variation, we document that treated firms increase their issuance of extern...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
SAGE Publications
2021
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| Online Access: | https://hdl.handle.net/1721.1/130493 |