Purpose–This paper aims to investigate the determinants of capital structure of non-financial
firms in Iran. Design/methodology/approach–This paper reviews different conditional …

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

Prior research has focused on the factors that affect funding success on equity crowdfunding
platforms, but a detailed understanding of the factors that drive firms to search for equity …

This paper examines the relative importance of many factors in the capital structure
decisions of publicly traded American firms from 1950 to 2003. The most reliable factors for …

The empirical literature provides conflicting assessments about how firms choose their
capital structures. Distinguishing among the three main hypotheses (“tradeoff”, pecking …

Prior work on leverage implicitly assumes capital availability depends solely on firm
characteristics. However, market frictions that make capital structure relevant may also be …

We empirically examine whether firms engage in a dynamic rebalancing of their capital
structures while allowing for costly adjustment. We begin by showing that the presence of …

Taxes, bankruptcy costs, transactions costs, adverse selection, and agency conflicts have all
been advocated as major explanations for the corporate use of debt financing. These ideas …

We show theoretically that while cash allows financially constrained firms to hedge future
investment against income shortfalls, reducing current debt is a more effective way to boost …

This paper examines how cash flows, investment expenditures, and stock price histories
affect debt ratios. Consistent with earlier work, we find that these variables have a …