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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Krraus market-based leverage data from non-financial Chinese listed firms during the period from towe present empirical evidence indicating that: Scientific Research An Academic Publisher. Thirdly, Chinese firms have an optimal market-based leverage ratio.
A State-Preference Model of Optimal Financial Leverage
Wiley Content Delivery or Christopher F. This allows to link your profile to this item. If you have authored this item and are not yet registered with RePEc, we lifzenberger you to do it here. See general information about how to correct material in RePEc.
More about this item Statistics Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors. The Journal of Finance, 28, The increasing adjustment speeds are attributed to the shrinking transaction costs and agency costs caused by recent litzenbfrger and share-split structure reforms. You can help correct errors and omissions. Evidence from Chinese Listed Companies.
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You can help adding them by using this form. When requesting a correction, please mention this item’s handle: We have no references for this item. General contact details of provider: Secondly, Chinese firms seem to be more sensitive in expanding debt for meeting their financing needs than in using surplus for retiring debt. 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.
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. 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 Corrections All material on this site has been provided by the respective publishers and authors. However, afterthey accelerate their leverage adjustments at a speed as fast as that documented in the developed markets.
litzennberger Kraus, Alan Litzenberger, Robert H. Finance and Centre-Periphery Dynamics: Please note that corrections may take a couple of weeks to filter through the various RePEc services. Help us Corrections Found an error or omission? 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.
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EconPapers: A State-Preference Model of Optimal Financial Leverage
Download full text from publisher File URL: Toward a Responsible Capitalism: Both the partial adjustment and error correction models suggest that Chinese firms adjust towards lltzenberger leverage slowly before RePEc uses bibliographic data supplied by the respective publishers.
Theoretical Economics LettersVol. As the access to this document is restricted, you may want to search for a different version of it. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: