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The Role of Target Leverage in Security Issues and Repurchases

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Cited by:

  1. Elsas, Ralf & Florysiak, David, 2008. "Empirical Capital Structure Research: New Ideas, Recent Evidence, and Methodological Issues," Discussion Papers in Business Administration 4743, University of Munich, Munich School of Management.
  2. Joseph Ooi & Seow-Eng Ong & Lin Li, 2010. "An Analysis of the Financing Decisions of REITs: The Role of Market Timing and Target Leverage," The Journal of Real Estate Finance and Economics, Springer, vol. 40(2), pages 130-160, February.
  3. Li, Xianghong & Zhao, Xinlei, 2006. "Propensity score matching and abnormal performance after seasoned equity offerings," Journal of Empirical Finance, Elsevier, vol. 13(3), pages 351-370, June.
  4. Danis, András & Rettl, Daniel A. & Whited, Toni M., 2014. "Refinancing, profitability, and capital structure," Journal of Financial Economics, Elsevier, vol. 114(3), pages 424-443.
  5. DeAngelo, Harry & DeAngelo, Linda & Stulz, Rene, 2007. "Fundamentals, Market Timing, and Seasoned Equity Offerings," Working Paper Series 2007-13, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  6. Yushu Zhu, 2013. "Determinants of long-term debt issuing decisions: An alternative approach," Australian Journal of Management, Australian School of Business, vol. 38(2), pages 429-439, August.
  7. Cai, Jie & Zhang, Zhe, 2011. "Leverage change, debt overhang, and stock prices," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 391-402, June.
  8. Norman Schurhoff, 2004. "Capital gains taxes, irreversible investment, and capital structure," 2004 Meeting Papers 592b, Society for Economic Dynamics.
  9. Chen, Long & Zhao, Xinlei, 2007. "Mechanical mean reversion of leverage ratios," Economics Letters, Elsevier, vol. 95(2), pages 223-229, May.
  10. García Lara, Juan Manuel & García Osma, Beatriz & Penalva, Fernando, 2016. "Accounting conservatism and firm investment efficiency," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 221-238.
  11. Ndayisaba, Gilbert A. & Ahmed, Abdullahi D., 2021. "Demystifying the paradoxical popularity of stock buybacks in a market environment characterised by high stock prices," International Review of Financial Analysis, Elsevier, vol. 78(C).
  12. Wong, Kacheng & Zhao, Longkai, 2023. "Customer–supplier relationships and non-linear financial policy response," Journal of Empirical Finance, Elsevier, vol. 73(C), pages 180-205.
  13. Franke, Günter & Draheim, Matthias, 2015. "Foundation Owned Firms in Germany - a Field Experiment for Agency Theory," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113217, Verein für Socialpolitik / German Economic Association.
  14. Rashid, Abdul, 2013. "Risks and financing decisions in the energy sector: An empirical investigation using firm-level data," Energy Policy, Elsevier, vol. 59(C), pages 792-799.
  15. Won Seo, Sung & Jin Chung, Hae, 2017. "Capital structure and corporate reaction to negative stock return shocks," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 292-312.
  16. Philippe GAUD & Martin HOESLI & André BENDER, 2004. "Further Evidence on Debt-Equity Choice," FAME Research Paper Series rp114, International Center for Financial Asset Management and Engineering.
  17. Alexandridis, George & Antypas, Nikolaos & Gulnur, Arman & Visvikis, Ilias, 2020. "Corporate financial leverage and M&As choices: Evidence from the shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 133(C).
  18. Duy Linh Nguyen & Wolfgang Breuer & Bertram Ingolf Steininger, 2018. "The REIT Debt Puzzle," ERES eres2018_77, European Real Estate Society (ERES).
  19. Faulkender, Michael & Flannery, Mark J. & Hankins, Kristine Watson & Smith, Jason M., 2012. "Cash flows and leverage adjustments," Journal of Financial Economics, Elsevier, vol. 103(3), pages 632-646.
  20. Chen, Anlin & Lu, Cheng-Shou, 2015. "The effect of managerial overconfidence on the market timing ability and post-buyback performance of open market repurchases," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 234-251.
  21. Wolfgang Breuer & Ji Cao & Marc Oliver Rieger & K. Can Soypak, 2019. "Capital Structure Decisions, Loss Aversion, and Equity Premium," Working Paper Series 2019-04, University of Trier, Research Group Quantitative Finance and Risk Analysis.
  22. Wu, Kai & Liu, Jiming, 2022. "Purifying political ecology: How anti-corruption campaign affects capital structure decisions?," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
  23. Daniela Venanzi, 2017. "How Country Affects the Capital Structure Choice: Literature Review and Criticism," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(4), pages 1-11, April.
  24. Carmen Cotei & Joseph Farhat, 2011. "An application of the two-stage Bivariate Probit–Tobit model to corporate financing decisions," Review of Quantitative Finance and Accounting, Springer, vol. 37(3), pages 363-380, October.
  25. Kayhan, Ayla & Titman, Sheridan, 2007. "Firms' histories and their capital structures," Journal of Financial Economics, Elsevier, vol. 83(1), pages 1-32, January.
  26. Matthias Draheim & Günter Franke, 2018. "Employee Orientation and Financial Performance of Foundation Owned Firms," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 70(4), pages 375-410, November.
  27. DeAngelo, Harry & DeAngelo, Linda & Stulz, René M., 2010. "Seasoned equity offerings, market timing, and the corporate lifecycle," Journal of Financial Economics, Elsevier, vol. 95(3), pages 275-295, March.
  28. Dudley, Evan, 2012. "Capital structure and large investment projects," Journal of Corporate Finance, Elsevier, vol. 18(5), pages 1168-1192.
  29. Tongxia Li & Chun Lu, 2023. "Local social environment and the speed of leverage adjustment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 1919-1952, June.
  30. Borhan Sayedy & Mohd Zulkifli Ghazali, 2017. "The Impact of Microeconomic Variables on Stock Return by Moderating of Money Supply," Asian Social Science, Canadian Center of Science and Education, vol. 13(12), pages 191-191, December.
  31. Rim El Houcine & Adel Boubaker, 2014. "Share Repurchasing and the Policies of Stock-Options," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(1), pages 175-187, January.
  32. Gaud, Philippe & Hoesli, Martin & Bender, Andre, 2007. "Debt-equity choice in Europe," International Review of Financial Analysis, Elsevier, vol. 16(3), pages 201-222.
  33. Ralf Elsas & Mark J. Flannery & Jon A. Garfinkel, 2014. "Financing Major Investments: Information about Capital Structure Decisions," Review of Finance, European Finance Association, vol. 18(4), pages 1341-1386.
  34. Duc Khuong Nguyen & Adel Boubaker, 2009. "Does financing behavior of Tunisian firms follow the predictions of the market timing theory of capital structure?," Economics Bulletin, AccessEcon, vol. 29(1), pages 169-181.
  35. Çolak, Gönül & Gungoraydinoglu, Ali & Öztekin, Özde, 2018. "Global leverage adjustments, uncertainty, and country institutional strength," Journal of Financial Intermediation, Elsevier, vol. 35(PA), pages 41-56.
  36. Barclay, Michael J. & Fu, Fangjian & Smith, Clifford W., 2021. "Seasoned equity offerings and corporate financial management," Journal of Corporate Finance, Elsevier, vol. 66(C).
  37. Chen, Sheng-Syan & Wang, Yanzhi, 2012. "Financial constraints and share repurchases," Journal of Financial Economics, Elsevier, vol. 105(2), pages 311-331.
  38. Waqas Rasool & Farheen Kayani & Mohsin Zafar, 2011. "The Impact of Leverage Levels on Firm’s Performance and Profitability: a case of Pakistani Industries," Information Management and Business Review, AMH International, vol. 3(5), pages 242-249.
  39. Soumaya Hergli & Frederic Teulon, 2014. "Capital structure’s explanatory factors : The Maghreb case," Working Papers 2014-98, Department of Research, Ipag Business School.
  40. Lin, Ji-Chai & Wu, YiLin, 2013. "SEO timing and liquidity risk," Journal of Corporate Finance, Elsevier, vol. 19(C), pages 95-118.
  41. Kim Huynh & Robert Petrunia & Joel Rodrigue & Walter Steingress, 2023. "Exporting and Investment Under Credit Constraints," Staff Working Papers 23-10, Bank of Canada.
  42. Hsu, Yuan-Teng & Huang, Chia-Wei, 2016. "Idiosyncratic risk and share repurchases," Finance Research Letters, Elsevier, vol. 18(C), pages 76-82.
  43. Aggarwal, Raj & Zhao, Xinlei, 2007. "The leverage-value relationship puzzle: An industry effects resolution," Journal of Economics and Business, Elsevier, vol. 59(4), pages 286-297.
  44. Hue Hwa Au Yong & Christine Brown & Chloe Choy Yeing Ho, 2014. "Off-Market Buybacks in Australia: Evidence of Abnormal Trading around Key Dates," International Review of Finance, International Review of Finance Ltd., vol. 14(4), pages 551-585, December.
  45. Lamoureux, Christopher G. & Nejadmalayeri, Ali, 2015. "Costs of capital and public issuance choice," Journal of Banking & Finance, Elsevier, vol. 61(C), pages 27-45.
  46. Patrice Fontaine & Sujiao Zhao, 2021. "Suppliers as financial intermediaries: Trade credit for undervalued firms," Post-Print hal-03507994, HAL.
  47. Wenfei Li & Cen Wu & Liping Xu & Qingquan Tang, 2017. "Bank connections and the speed of leverage adjustment: evidence from China's listed firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(5), pages 1349-1381, December.
  48. Alquhaif, Abdulsalam & Al-Gamrh, Bakr & Abdul Latif, Rohaida, 2020. "An overview of share buybacks: A descriptive case from Malaysia," Journal of Behavioral and Experimental Finance, Elsevier, vol. 28(C).
  49. Chao, Ching-Hsiang & Huang, Chih-Jen, 2022. "Firm performance following actual share repurchases: Effects of investment crowding out and financial flexibility," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
  50. Daniela Venanzi & Alessia Naccarato, 2017. "The Capital Structure Choice of European Firms: The Role of Financial System and Institutional Setting," International Business Research, Canadian Center of Science and Education, vol. 10(12), pages 22-47, December.
  51. Dalia Kaupelytė & Domas Mscichauskas, 2016. "Analysis of Factors Influencing Financial Leverage In Lithuanian Listed Companies," Central European Business Review, Prague University of Economics and Business, vol. 2016(2), pages 74-86.
  52. Li, Tongxia & Lu, Chun & Chen, Zhihua, 2023. "The unintended consequence of collateral-based financing: Evidence from corporate cost behavior," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(1).
  53. Mahajan, Arvind & Tartaroglu, Semih, 2008. "Equity market timing and capital structure: International evidence," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 754-766, May.
  54. Lartey, Theophilus & Danso, Albert & Boateng, Agyenim, 2021. "Co-opted boards and capital structure dynamics," International Review of Financial Analysis, Elsevier, vol. 77(C).
  55. Dang, Tung Lam & Dang, Viet Anh & Moshirian, Fariborz & Nguyen, Lily & Zhang, Bohui, 2019. "News media coverage and corporate leverage adjustments," Journal of Banking & Finance, Elsevier, vol. 109(C).
  56. repec:ipg:wpaper:2014-098 is not listed on IDEAS
  57. Huang, I-Hsiang, 2014. "Does market timing persistently affect capital structure? Evidence from stock market liberalization," Pacific-Basin Finance Journal, Elsevier, vol. 26(C), pages 123-144.
  58. DeAngelo, Harry & DeAngelo, Linda & Whited, Toni M., 2011. "Capital structure dynamics and transitory debt," Journal of Financial Economics, Elsevier, vol. 99(2), pages 235-261, February.
  59. Mitchell, Jason D. & Dharmawan, Grace V., 2007. "Incentives for on-market buy-backs: Evidence from a transparent buy-back regime," Journal of Corporate Finance, Elsevier, vol. 13(1), pages 146-169, March.
  60. Versmissen, J. & Zietz, J., 2017. "Is there a leverage target for REITs?," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 57-69.
  61. Zhaoxia Xu, 2007. "Do Firms Adjust Toward a Target Leverage Level?," Staff Working Papers 07-50, Bank of Canada.
  62. Bazdresch, Santiago, 2011. "Empirical policy functions as benchmarks for evaluation of dynamic capital structure models," MPRA Paper 35509, University Library of Munich, Germany, revised 01 Nov 2011.
  63. Maroney, Neal & Wang, Wei & Kabir Hassan, M., 2019. "Incorporating active adjustment into a financing based model of capital structure," Journal of International Money and Finance, Elsevier, vol. 90(C), pages 204-221.
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