Some aspects regarding the financial structure theories
AbstractIn this paper the authors survey financial structure theories, from the start-up point, which is considered Modigliani and Miller’s capital structure irrelevance theorem, to recent theories, such as the pecking order and the market timing theory. For each type of model, a brief overview of the papers surveyed and their relation to each other is provided.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 30412.
Date of creation: 2009
Date of revision:
financial structure; market timing; trade-off theory; leverage; debt; equity; agency costs;
Find related papers by JEL classification:
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- G3 - Financial Economics - - Corporate Finance and Governance
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- Malcolm Baker & Jeffrey Wurgler, 2002.
"Market Timing and Capital Structure,"
Journal of Finance,
American Finance Association, vol. 57(1), pages 1-32, 02.
- Jeffrey A. Wurgler & Malcolm P. Baker, 2001. "Market Timing and Capital Structure," Yale School of Management Working Papers, Yale School of Management ysm181, Yale School of Management.
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- Michael R. Roberts & Mark T. Leary, 2004.
"Do Firms Rebalance Their Capital Structures?,"
Econometric Society 2004 North American Summer Meetings
52, Econometric Society.
- Harris, Milton & Raviv, Artur, 1991. " The Theory of Capital Structure," Journal of Finance, American Finance Association, vol. 46(1), pages 297-355, March.
- Harold Cole & Andrew Atkeson, 2004.
"A Dynamic Theory of Optimal Capital Structure and Executive Compensation,"
2004 Meeting Papers
267, Society for Economic Dynamics.
- Andrew Atkeson & Harold Cole, 2005. "A Dynamic Theory of Optimal Capital Structure and Executive Compensation," NBER Working Papers 11083, National Bureau of Economic Research, Inc.
- Graham, John R. & Harvey, Campbell R., 2001. "The theory and practice of corporate finance: evidence from the field," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 187-243, May.
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