The influence of firm financial position and industry characteristics on capital structure adjustment

We extend Byoun's (2008) modelling of the relationship between deficits and surpluses and adjustment speed, to demonstrate how industry characteristics identified by Kayo and Kimura (2011), including industry concentration, industry munificence and industry dynamism, impact on speed of adjustme...

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Veröffentlicht in:	Accounting and finance (Parkville) 2015-12, Vol.55 (4), p.1135-1169
Hauptverfasser:	Smith, David J., Chen, Jianguo, Anderson, Hamish D.
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital structure Deficits Speed of adjustment Studies
Online-Zugang:	Volltext
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