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Stock Options and Capital Structure

Author

Listed:
  • Macminn, R.D.
  • Page, F.H.

Abstract

The empirical evidence on sources of corporate financing strongly suggests that firms prefer internally generated funds to debt and debt to equity in financing their investment activities. What is the economic rationale for this preference ordering or pecking order? We provide an explanation based on managerial compensation.

Suggested Citation

  • Macminn, R.D. & Page, F.H., 2001. "Stock Options and Capital Structure," Papiers d'Economie Mathématique et Applications 2001.36, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:fth:pariem:2001.36
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    1. is not listed on IDEAS
    2. repec:osf:socarx:jd3c2_v1 is not listed on IDEAS
    3. Nie, George Y., 2023. "The Missing Dimension of Risk: Evidence from Inside Debt Maturity and Acquisition Choices," SocArXiv f6nsm_v1, Center for Open Science.
    4. Nie, George Y., 2024. "The Missing Dimension of Risk: Evidence from Inside Debt Maturity and Acquisition Choices," SocArXiv jd3c2, Center for Open Science.

    More about this item

    Keywords

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    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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