The Cyclical Behavior of Debt and Equity Finance

Debt and equity issuance are procyclical for most size-sorted firm categories of listed US firms and the procyclicality of equity issuance decreases monotonically with firm size. At the aggregate level, however, the results for equity issuance are not conclusive due to different behavior of the larg...

Ausführliche Beschreibung

Gespeichert in:

Bibliographische Detailangaben
Veröffentlicht in:	The American economic review 2011-04, Vol.101 (2), p.877-899
Hauptverfasser:	Covas, Francisco, Haan, Wouter J. Den
Format:	Artikel
Sprache:	eng
Schlagworte:	Book value Business cycles Business structures Capital formation Cash flow Corporate debt Corporate finance Correlation coefficients Debt management Debt to equity ratio Economic theory Equity Equity financing Finance Financial investments Financial management Financing methods Firm value Gross domestic product Investments Macroeconomics Procyclicality Retained earnings Seasonal fluctuations Shorter Papers Studies Time series Venture capital
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!

Schreiben Sie den ersten Kommentar!