Mergers and corporate debt financing
AbstractWe investigate the effect of mergers on corporate debt financing using time series analysis. We find that corporate debt use increases during periods of very high merger activity but is not significantly affected by variations within the normal range of merger activity. Traditional trade-off and pecking order variables also significantly affect corporate financing choice.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 114 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/ecolet
Merger; Mega-merger; Financing policy; Leverage; Capital structure;
Find related papers by JEL classification:
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
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