Determinants of Adjustment Speed to Target Capital Structure: Evidence from Indian Manufacturing Firms

被引：0
|
作者：
Mahakud, Jitendra [1 ]
Mukherjee, Sulagna [1 ]
机构：
[1] Indian Inst Technol, Dept Humanities & Social Sci, Kharagpur 721302, W Bengal, India
来源：
ECONOMICS AND FINANCE RESEARCH | 2011年 / 4卷
关键词：
Adjustment speed; target capital structure; dynamic panel data; generalized method of moments; macroeconomic condition; and financial constraints; DEBT;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The objective of the study is to identify the determinants of adjustment speed to target capital structure for 891 Indian manufacturing companies over the period from 1993-94 to 2007-08. Using a dynamic panel data analysis and more specifically generalized method of moments technique we find that financial constraints, external-financing cost, distress cost, ownership and macro economic conditions affect the speed of adjustment to target capital structure significantly.
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页码：67 / 71
页数：5
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