Unobservable effects and speed of adjustment to target capital structure
The paper investigates whether unobservable firm-specific effects such as managerial ability is a major component of the target capital structure. We apply the system generalized method of moments that accounts for unobservable firm-specific effects. Our results reveal that unobservable firm-specifi...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universiti Malaysia Sarawak
2015
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| Online Access: | http://psasir.upm.edu.my/id/eprint/46813/1/Unobservable%20effects%20and%20speed%20of%20adjustment%20to%20target%20capital%20structure.pdf |