This paper examines whether and how digital transformation impacts capital structure
adjustment speed. We find that digital transformation speeds up capital structure adjustment …

Venture capital-backed companies account for 41% of total US market capitalization and
62% of US public companies' R&D spending. Among public companies founded within the …

An important piece of the capital structure puzzle has been missing, and it is not a
contracting friction. It is recognition that managers do not have sufficient knowledge to …

This research examines the effect of product market threats on firms' leverage adjustments.
We find that competitive pressures from the product market accelerate the leverage speed of …

This paper provides a survey of the trade-off theory of corporate capital structure. First we
provide an analysis of an equilibrium version of the theory. The firm raises debt from an …

Given their actual revenue and spending, most net equity issuers and an overwhelming
majority of net debt issuers would face immediate cash depletion without external financing …

Abstract Based on the Upper Echelon Theory, this paper examined the relationship of CEO
education and experience with the dynamic capital structure (DCS) using the target leverage …

Employing a large sample of 7246 firms across 38 economies from 2000 to 2013, we show a
positive relation between foreign institutional ownership (FIO) and firms' speed of leverage …

We establish a link between supply chain finance (SCF) and capital structure adjustment by
core firms through a data set of listed firms on the Shanghai and Shenzhen Stock …

We examine the relation between social trust and the speed of leverage adjustment (SOA)
around the world. Using a large international sample (65 countries, 1996–2016), we find that …