Capital structure: The case of firms issuing debt
This study reinvestigates the relationship between financial leverage and firm characteristics in a cross-sectional setting and a panel setting. Monte-Carlo simulation-based inference results confirm the finding of Barraclough (2007) that a cross-sectional multiple regression model sharing common divisors suffers from a latent spurious ratio problem. To avoid the spurious ratio problem, variables in changes instead of ratios are adopted in two panel models: a first-differenced fixed-effects...[Show more]
|Collections||ANU Research Publications|
|Source:||Australian Journal of Management|
|01_Zhu_Capital_structure:_The_case_of_2012.pdf||888.24 kB||Adobe PDF||Request a copy|
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