Trade-off Theory vs Pecking Order Theory Revisited Evidence from India

被引：11
|
作者：
Singh, Priyanka [1 ]
Kumar, Brajesh [2 ,3 ]
机构：
[1] Indian Inst Management Ahmedabad, Ahmadabad 380015, Gujarat, India
[2] IIM Ahmedabad, Ahmadabad, Gujarat, India
[3] OP Jindal Global Univ, Jindal Global Business Sch, Sonipat 131001, Ncr Of Delhi, India
来源：
JOURNAL OF EMERGING MARKET FINANCE | 2012年 / 11卷 / 02期
关键词：
Trade-off theory; pecking order theory; capital structure; emerging market;
D O I：
10.1177/0972652712454514
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article empirically tests the two competing theories of capital structure: Trade-off theory against Pecking Order theory using the time series hypothesis. This study is performed for an emerging market context taking the case of Indian firms with a sample from 10 industries for the period 1990 to 2007. Our results support the evidence of trade-off theory in the Indian firms (contrary to the results found by Farhat, Cotei and Abugri 2006). The result is consistent for the overall sample as well as for different industries separately.
引用
收藏
页码：145 / 159
页数：15
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