haku: @author Ghosh, D.K. / yhteensä: 1
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| Tekijä: | Bagley, C.N. Ghosh, D.K. Yaari, U. |
| Otsikko: | Pecking order as a dynamic leverage theory |
| Lehti: | European Journal of Finance
1998 : JUN, VOL. 4:2, p. 157-183 |
| Asiasana: | debt gearing capital structure of companies |
| Kieli: | eng |
| Tiivistelmä: | The focus of this article is on a dynamic debt policy of a company. Authors criticize static tradeoff theories because they do not explain the policy of asymmetry between frequent small debt transactions and infrequent large equity transactions. They provide a class of diffusion models which are designed to optimize a financing strategy using any static tradeoff theory as a input. |
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