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英语作文 我的家庭The capital structure dynamics of Malaysian firms: timing behavior vs adjustment toward the target 期刊名称： International Journal of Managerial Finance
文字处理机作者： Islam Abdeljawad,Fauzias Mat Nor
directx是什么东西待到梦醒时分作者机构： An-Najah National University,Faculty of Economics and Muamalatcorrections
najin
年份： 2017年
off the hook期号： 第3期圆梦教育培训学校
关键词： Speed of adjustment; Dynamic capital structure; GMM system; Trade-off theory; Market timing theory
摘要：Purpo - The purpo of this paper is to investigate how the timing behavior and the adjustment toward the target of capital structure interact with each other in the capital structure decisions. Past literature finds that both timing and targeting are significant in determining the leverage ratio which is inconsistent with any standalone framework. This study argues that the preference of the
firm for timing behavior or targeting behavior depends on the cost of deviation from the target. Since the cost of deviation from the target is likely to be asymmetric between overleveraged and underleveraged firms, the direction of the deviation from the target leverage is expected to alter the preference toward timing or targeting in the capital structure decision. Design/methodology/approach - This study ud the GMM system estimators
甄嬛传翻译内容由中国教育图书进出口有限公司引进
