STILL SEARCHING FOR OPTIMAL CAPITAL STRUCTURE

STILL SEARCHING FOR OPTIMAL CAPITAL STRUCTURE Footnotes 1 . This is not a self‐contained survey article. I have stated theories intuitively and not attempted to derive them. I have attempted to cite interesting and representative research by others but have nevertheless skipped over many useful empirical and theoretical contributions. For an extensive survey and bibliography, see Ronald Masulis, The Debt‐Equity Choice (New York: Ballinger Publishing Co., 1988). 2 . See Michael Long and Ileen Malitz in “Investment Patterns and Financial Leverage,” in B. Friedman, ed., Corporate Capital Structure in the United States (Chicago: University of Chicago Press, 1985). Also, Sheridan Titman and Roberto Wessels find that debt ratios are negatively related to marketing and selling expenses and R&D expenses. These expenses are obvious proxies for intangible assets, although Titman and Wessels interpret them as proxies for “uniqueness.” See S. Titman and R. Wessels , “ The Determinants of Capital Structure Choice ,” Journal of Finance , vol. 43 , no. 1 , March 1988 , 1 – 19 . See also note 24 below. 3 . Clifford Smith , “ Investment Banking and the Capital Acquisition Process . Journal of Financial Economics , vol. 15 , no. 12 , JanuaryFebruary 1986 , 3 – http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Applied Corporate Finance Wiley

STILL SEARCHING FOR OPTIMAL CAPITAL STRUCTURE

Loading next page...
 
/lp/wiley/still-searching-for-optimal-capital-structure-6SMO0Hpfrq
Publisher
Wiley
Copyright
Copyright © 1993 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1078-1196
eISSN
1745-6622
DOI
10.1111/j.1745-6622.1993.tb00369.x
Publisher site
See Article on Publisher Site

Abstract

Footnotes 1 . This is not a self‐contained survey article. I have stated theories intuitively and not attempted to derive them. I have attempted to cite interesting and representative research by others but have nevertheless skipped over many useful empirical and theoretical contributions. For an extensive survey and bibliography, see Ronald Masulis, The Debt‐Equity Choice (New York: Ballinger Publishing Co., 1988). 2 . See Michael Long and Ileen Malitz in “Investment Patterns and Financial Leverage,” in B. Friedman, ed., Corporate Capital Structure in the United States (Chicago: University of Chicago Press, 1985). Also, Sheridan Titman and Roberto Wessels find that debt ratios are negatively related to marketing and selling expenses and R&D expenses. These expenses are obvious proxies for intangible assets, although Titman and Wessels interpret them as proxies for “uniqueness.” See S. Titman and R. Wessels , “ The Determinants of Capital Structure Choice ,” Journal of Finance , vol. 43 , no. 1 , March 1988 , 1 – 19 . See also note 24 below. 3 . Clifford Smith , “ Investment Banking and the Capital Acquisition Process . Journal of Financial Economics , vol. 15 , no. 12 , JanuaryFebruary 1986 , 3 –

Journal

Journal of Applied Corporate FinanceWiley

Published: Mar 1, 1993

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off