Skip navigation
Skip navigation

Capital structure: The case of firms issuing debt

Zhu, Yushu


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]

CollectionsANU Research Publications
Date published: 2012
Type: Journal article
Source: Australian Journal of Management
DOI: 10.1177/0312896211429159


File Description SizeFormat Image
01_Zhu_Capital_structure:_The_case_of_2012.pdf888.24 kBAdobe PDF    Request a copy

Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  23 August 2018/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator