There is no doubt that access to finance is of crucial importance for the ongoing and
sustainable growth and profitability of small and medium enterprises sector (SMEs) through …

This article reviews empirical capital structure research, concentrating on papers published
since 2005. We begin by documenting three dimensions of capital structure variation: cross …

内容提要: 本综述主要围绕小企业融资需求, 信贷配给及宏观经济政策冲击三方面的内容展开.
严重的信息不对称以及所有者个人与企业的高度融合决定了小企业融资需求与传统理论之间 …

内容提要: 本文研究中国上市公司的股权融资偏好和资本结构的影响因素,
并提供了一种检验中国上市公司股权融资偏好说的方法, 同时为其提供了有力的经验支持证据 …

A complete resource for finance students, this textbook presents the most common empirical
approaches in finance in a comprehensive and well-illustrated manner that shows how …

We survey 392 CFOs about the cost of capital, capital budgeting, and capital structure. Large
firms rely heavily on present value techniques and the capital asset pricing model, while …

It is well known that firms are more likely to issue equity when their market values are high,
relative to book and past market values, and to repurchase equity when their market values …

We test the pecking order theory of corporate leverage on a broad cross-section of publicly
traded American firms for 1971 to 1998. Contrary to the pecking order theory, net equity …

We study capital structure choices that entrepreneurs make in their firms' initial year of
operation, using restricted-access data from the Kauffman Firm Survey. Firms in our data rely …

We find that the majority of variation in leverage ratios is driven by an unobserved time‐
invariant effect that generates surprisingly stable capital structures: High (low) levered firms …