Kraus, Alan & Litzenberger, Robert H, “A State-Preference Model of Optimal Financial Leverage,” Journal of Finance, American Finance Association, vol. Kraus, A. and Litzenberger, R.H. () A State-Reference Model of Optimal Financial Leverage. The Journal of Finance, 28, A. Kraus and R. Litzenberger, “A State-Preference Model of Optimal Financial Leverage,” Journal of Finance, Vol. 28, No. 4, , pp.
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See general information about how to correct material in RePEc. The increasing adjustment speeds are attributed to the shrinking transaction costs and agency costs caused by recent currency qnd share-split structure reforms. You can help correct errors and omissions. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item.
Both the partial adjustment and error correction models suggest that Chinese firms adjust towards target leverage slowly before More about this item Statistics Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors. More about this liyzenberger Statistics Access and download statistics.
Kraus, Alan Litzenberger, Robert H. Scientific Research An Academic Publisher.
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For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: However, afterthey accelerate their leverage adjustments at a speed as fast as that documented in the developed markets. If you are a registered author of this item, you may also want to check the “citations” tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Wiley Content Delivery or Christopher F. Finance and Centre-Periphery Dynamics: Specifically, we examine a variety of trade-off and pecking order models and compare their performance by nesting these two different models in the same regression. The Journal of Finance, 28, In this study, we examine whether and to what extent the main stream capital structure theories developed in Western countries apply to Chinese listed companies during its most recent transition period after year We have no references for this item.
Toward a Responsible Capitalism: Theoretical Economics LettersVol. Please note that corrections may take a couple of weeks to filter through the various RePEc services.
Using market-based leverage data from non-financial Chinese listed firms during the period from towe present empirical evidence indicating that: Help us Corrections Found an error or omission? RePEc uses bibliographic data supplied by the respective publishers.
Download full text from publisher File URL: Evidence from Chinese Listed Companies. General contact details of provider: As the access to this document is restricted, you may anr to search for a different version of it. Thirdly, Chinese firms have an optimal market-based leverage ratio. This allows to link your profile to this item.