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Financial pressure and balance sheet adjustment by UK firms Author info | Abstract | Publisher info | Download info | Related research | Statistics Andrew Benito
Garry Young
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In this paper the financial policies and balance sheet adjustment of companies are examined. Using a large panel of quoted UK firms, models for dividends, new equity issuance and investment are estimated, relating them to debt adjustment. The results suggest that while dividends are sticky in the short run, they are an important means of balance sheet adjustment in the long run. Other evidence supports the idea that companies actively target their balance sheet by variation in dividends, new equity issues and investment.
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Paper provided by Bank of England in its series Bank of England working papers with number
168.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Andrew Benito, 2003.
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Albert Jaeger, 2003.
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Ignacio Hernando & Carmen Martínez-Carrascal, 2003.
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Andrew Benito, 2002.
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von Kalckreuth, Ulf & Chirinko, Robert S. & Jörg Breitung, 2003.
"A Vectorautoregressive Investment Model (VIM) and Monetary Policy Transmission: Panel Evidence from German Firms ,"
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Philip Bunn & Garry Young, .
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Andrew Benito & John Whitley, .
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Andrew Benito & Ignacio Hernando, 2002.
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