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The Importance Of A Market-Value Measurement Of Debt In Assessing Leverage

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Cited by:

  1. Hang, Markus & Geyer-Klingeberg, Jerome & Rathgeber, Andreas W. & Stöckl, Stefan, 2018. "Measurement matters—A meta-study of the determinants of corporate capital structure," The Quarterly Review of Economics and Finance, Elsevier, vol. 68(C), pages 211-225.
  2. Shahab u Din & Attiya Javid & Muhammad Imran, 2013. "External and Internal Ownership Concentration and Debt Decisions in an Emerging Market: Evidence from Pakistan," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(12), pages 1583-1597, December.
  3. Jeremiah Green & Henock Louis & Jalal Sani, 2022. "Intangible Investments, Scaling, and the Trend in the Accrual–Cash Flow Association," Journal of Accounting Research, Wiley Blackwell, vol. 60(4), pages 1551-1582, September.
  4. Chkir, Imed Eddine & Cosset, Jean-Claude, 2001. "Diversification strategy and capital structure of multinational corporations," Journal of Multinational Financial Management, Elsevier, vol. 11(1), pages 17-37, February.
  5. Peter Kugler & Beatrice Weder, 2004. "International Portfolio Holdings and Swiss Franc Asset Returns," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 140(III), pages 301-325, September.
  6. David Yechiam Aharon & Yossi Yagil, 2019. "The Impact of Financial Leverage on Shareholders’ Systematic Risk," Sustainability, MDPI, vol. 11(23), pages 1-23, November.
  7. Bougias, Alexandros & Episcopos, Athanasios & Leledakis, George N., 2022. "The role of asset payouts in the estimation of default barriers," International Review of Financial Analysis, Elsevier, vol. 81(C).
  8. Sarkar, Sudipto, 2001. "Probability of call and likelihood of the call feature in a corporate bond," Journal of Banking & Finance, Elsevier, vol. 25(3), pages 505-533, March.
  9. Chang, Ya-Kai & Chou, Robin K. & Huang, Tai-Hsin, 2014. "Corporate governance and the dynamics of capital structure: New evidence," Journal of Banking & Finance, Elsevier, vol. 48(C), pages 374-385.
  10. J. Sarmiento-Sabogal & M. Sadeghi, 2015. "Estimating the cost of equity for private firms using accounting fundamentals," Applied Economics, Taylor & Francis Journals, vol. 47(3), pages 288-301, January.
  11. Michael Seiler & Arjun Chatrath & James Webb, 2001. "Real Asset Ownership and the Risk and Return to Stockholders," Journal of Real Estate Research, Taylor & Francis Journals, vol. 22(1-2), pages 199-212, January.
  12. Sarkar, Sudipto & Hong, Gwangheon, 2004. "Effective duration of callable corporate bonds: Theory and evidence," Journal of Banking & Finance, Elsevier, vol. 28(3), pages 499-521, March.
  13. Emanuele Teti & Maurizio Dallocchio & Tancredi Currao, 2022. "Family ownership and M&A payment method," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 1989-2005, April.
  14. David Yechiam Aharon & Yossi Yagil, 2019. "The Impact of Financial Leverage on the Variance of Stock Returns," IJFS, MDPI, vol. 7(1), pages 1-18, March.
  15. Timothy J. Brailsford & Barry R. Oliver & Sandra L. H. Pua, 2002. "On the relation between ownership structure and capital structure," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 42(1), pages 1-26, March.
  16. Ferris, Stephen P. & Hanousek, Jan & Shamshur, Anastasiya & Tresl, Jiri, 2018. "Asymmetries in the Firm's use of debt to changing market values," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 542-555.
  17. R.T.A. de Haas & H.M.M. Peeters, 2004. "Firms' Dynamic Adjustment to Target Capital Structures in Transition Economies," Finance 0405014, University Library of Munich, Germany.
  18. Linn, Scott C. & Stock, Duane R., 2005. "The impact of junior debt issuance on senior unsecured debt's risk premiums," Journal of Banking & Finance, Elsevier, vol. 29(6), pages 1585-1609, June.
  19. Kim, Huong Trang & Nguyen, Quang, 2022. "Managers’ loss aversion and firm debt financing: Some insights from Vietnamese SMEs," Finance Research Letters, Elsevier, vol. 44(C).
  20. Daniel B. Thornton, 1988. "Capital values in use versus replacement costs: Theory and Canadian evidence," Contemporary Accounting Research, John Wiley & Sons, vol. 5(1), pages 343-370, September.
  21. Julio Sarmiento & Mehdi Sadeghi & Juan S. Sandoval & Edgardo Cayon, 2021. "The application of proxy methods for estimating the cost of equity for unlisted companies: evidence from listed firms," Review of Quantitative Finance and Accounting, Springer, vol. 57(3), pages 1009-1031, October.
  22. Hanousek, Jan & Shamshur, Anastasiya & Tresl, Jiri & Ferris , Stephen, 2017. "Asymmetries in the Firm’s Use of Debt to Changing Market Values," CEPR Discussion Papers 12099, C.E.P.R. Discussion Papers.
  23. Isil Erol & Dogan Tirtiroglu, 2011. "Concentrated Ownership, No Dividend Payout Requirement and Capital Structure of REITs: Evidence from Turkey," The Journal of Real Estate Finance and Economics, Springer, vol. 43(1), pages 174-204, July.
  24. Raja Zekri Ben Hamouda & Faouzi Jilani, 2023. "Impact of the Global Financial Crisis and the Tunisia’s Jasmine Revolution on the Corporate Capital Structure: Evidence from Four Arab Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 13(6), pages 124-134, November.
  25. Sarmiento-Sabogal, Julio & Sadeghi, Mehdi, 2014. "Unlevered betas and the cost of equity capital: An empirical approach," The North American Journal of Economics and Finance, Elsevier, vol. 30(C), pages 90-105.
  26. M. Ameziane Lasfer, 1995. "Agency costs, taxes and debt: The UK evidence," European Financial Management, European Financial Management Association, vol. 1(3), pages 265-285, November.
  27. Dan Dhaliwal & Shane Heitzman & Oliver Zhen Li, 2006. "Taxes, Leverage, and the Cost of Equity Capital," Journal of Accounting Research, Wiley Blackwell, vol. 44(4), pages 691-723, September.
  28. Flora F. Niu & Gordon D. Richardson, 2006. "Are Securitizations in Substance Sales or Secured Borrowings? Capital†Market Evidence," Contemporary Accounting Research, John Wiley & Sons, vol. 23(4), pages 1105-1133, December.
  29. Ralph de Haas & Marga Peeters, 2006. "The dynamic adjustment towards target capital structures of firms in transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 14(1), pages 133-169, March.
  30. Zhou, Mengling & Li, Kexin & Chen, Zhongfei, 2021. "Corporate governance quality and financial leverage: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 73(C).
  31. Ramiah, Vikash & Xu, Xiaoming & Moosa, Imad A., 2015. "Neoclassical finance, behavioral finance and noise traders: A review and assessment of the literature," International Review of Financial Analysis, Elsevier, vol. 41(C), pages 89-100.
  32. He, Jingbin & Ma, Xinru & Wei, Qu, 2022. "Firm-level short selling and the local COVID-19 pandemic: Evidence from China," Economic Modelling, Elsevier, vol. 113(C).
  33. Sanjiva Prasad & Christopher J. Green & Victor Murinde, 2001. "Company Financing, Captial Structure, and Ownership: A Survey, and Implications for Developing Economies," SUERF Studies, SUERF - The European Money and Finance Forum, number 12 edited by Morten Balling, May.
  34. Shahab U Din & Attiya Javid & Muhammad Imran, 2013. "External and Internal Ownership Concentration and Debt Decisions in an Emerging Market: Evidence from Pakistan," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(12), pages 1583-1597.
  35. Suret, Jean-Marc & Gagnon, Jean-Marie, 1991. "Taux implicite d’impôt et détachement du dividende," L'Actualité Economique, Société Canadienne de Science Economique, vol. 67(4), pages 482-498, décembre.
  36. Clifford F. Thies & Mark S. Klock, 1992. "Determinants Of Capital Structure," Review of Financial Economics, John Wiley & Sons, vol. 1(2), pages 40-52, March.
  37. Sjur Westgaard & Amund Eidet & Stein Frydenberg & Thor Christian Grosås, 2008. "Investigating the Capital Structure of UK Real Estate Companies," Journal of Property Research, Taylor & Francis Journals, vol. 25(1), pages 61-87, August.
  38. Ana Margarida Fernandes Afonso Correia & António Melo Cerqueira & Elísio Brandão, 2015. "Determinants of Corporate Capital Structure: Evidence from Non-financial Listed French Firms," FEP Working Papers 566, Universidade do Porto, Faculdade de Economia do Porto.
  39. Óscar Villarón-Peramato & Jennifer Martínez-Ferrero & Isabel-María García-Sánchez, 2018. "CSR as entrenchment strategy and capital structure: corporate governance and investor protection as complementary and substitutive factors," Review of Managerial Science, Springer, vol. 12(1), pages 27-64, January.
  40. Iván Arribas & Emili Tortosa-Ausina & TingTing Zhu, 2021. "Optimal capital structure, model uncertainty, and European SMEs," Working Papers 2021/11, Economics Department, Universitat Jaume I, Castellón (Spain).
  41. Jan A. Kempkes & Francesco Suprano & Andreas Wömpener, 2023. "An empirical evaluation of dynamic approaches for estimating firms’ expected cost of equity capital," The Financial Review, Eastern Finance Association, vol. 58(4), pages 859-886, November.
  42. Dan S. Dhaliwal & Kyung J. Lee & Neil L. Fargher, 1991. "The association between unexpected earnings and abnormal security returns in the presence of financial leverage," Contemporary Accounting Research, John Wiley & Sons, vol. 8(1), pages 20-41, September.
  43. Sanjiva Prasad & Christopher J. Green & Victor Murinde, 2005. "Company Financial Structure: A Survey and Implications for Developing Economies," Chapters, in: Christopher J. Green & Colin Kirkpatrick & Victor Murinde (ed.), Finance and Development, chapter 12, Edward Elgar Publishing.
  44. Raphael Amit & Joshua Livnat & Paul Zarowin, 1989. "A classification of mergers and acquisitions by motives: Analysis of market responses," Contemporary Accounting Research, John Wiley & Sons, vol. 6(1), pages 143-158, September.
  45. Wolfgang Drobetz & Gabrielle Wanzenried, 2006. "What determines the speed of adjustment to the target capital structure?," Applied Financial Economics, Taylor & Francis Journals, vol. 16(13), pages 941-958.
  46. John Trussel, 1997. "Default probability on corporate bonds: A contingent claims model," Review of Financial Economics, John Wiley & Sons, vol. 6(2), pages 199-209.
  47. Faff, R. W. & Brooks, R. D. & Kee, Ho Yew, 2002. "New evidence on the impact of financial leverage on beta risk: A time-series approach," The North American Journal of Economics and Finance, Elsevier, vol. 13(1), pages 1-20, May.
  48. Chiung-Jung Chen & Chwo-Ming Joseph Yu, 2011. "FDI, Export, and Capital Structure," Management International Review, Springer, vol. 51(3), pages 295-320, June.
  49. Mocnik, Dijana, 2001. "Asset specificity and a firm's borrowing ability: an empirical analysis of manufacturing firms," Journal of Economic Behavior & Organization, Elsevier, vol. 45(1), pages 69-81, May.
  50. Stefan Stöckl, 2017. "Measurement matters - A meta-Study of the determinants of corporate capital structure," Post-Print hal-01772346, HAL.
  51. Drobetz, Wolfgang & Pensa, Pascal & Wanzenried, Gabrielle, 2007. "Firm Characteristics, Economic Conditions and Capital Structure Adjustment," Working papers 2007/16, Faculty of Business and Economics - University of Basel.
  52. Wolfgang Drobetz & Gabrielle Wanzenried, 2004. "What Determines the Speed of Adjustment to the Target Capital Structure?," Diskussionsschriften dp0415, Universitaet Bern, Departement Volkswirtschaft.
  53. Chiu, She-Chih & Lin, Hsuan-Chu & Chien, Chin-Chen & Liang, Chia-Chen, 2022. "Does Form 20-F reconciliation elimination for IFRS filers affect the risk forecasting ability of accounting numbers?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(3).
  54. Carl Chiarella & Toan Pham & Ah Boon Sim & Madeleine Tan, 1991. "Determinants of Corporate Capital Structure: Australian Evidence," Working Paper Series 3, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
  55. Ivo Welch, 2002. "Columbus' Egg: The Real Determinant of Capital Structure," NBER Working Papers 8782, National Bureau of Economic Research, Inc.
  56. Magnus Talberg & Christian Winge & Stein Frydenberg & Sjur Westgaard, 2008. "Capital Structure Across Industries," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 15(2), pages 181-200.
  57. Trussel, John, 1997. "Default probability on corporate bonds: A contingent claims model," Review of Financial Economics, Elsevier, vol. 6(2), pages 199-209.
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