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Testing the pecking order theory: the importance of methodology
16 references·9 citing·30 second hopsampled
Testing the pecking order theory: the importance of methodology (2009)Testing the pecking order theory: the imp…The pecking order, debt capacity, and information asymmetry (2009)The pecking order, debt capac…Financing decisions: who issues stock? (2004)Financing decisions: who issu…Corporate Finance in Europe Confronting Theory with Practice (2004)Corporate Finance in Europe C…Testing the pecking order theory of capital structure (2002)Testing the pecking order the…The theory and practice of corporate finance: evidence from the field (2001)The theory and practice of co…Determinants of capital structure: new evidence from Spanish panel data (2001)Determinants of capital struc…Testing static tradeoff against pecking order models of capital structure1This paper has benefited from comments by seminar participants at Boston College, Boston Unsiversity, Dartmouth College, Massachusetts Institute of Technology, University of Massachusetts, Ohio State University, University of California at Los Angeles and the NBER, especially Eugene Fama and Robert Gertner. The usual disclaimers apply. Funding from MIT and the Tuck School at Dartmouth College is gratefuly acknowledged. We also thank two reviewers, Richard S. Ruback and Clifford W. Smith, Jr., for helpful comments.1 (1999)Testing static tradeoff again…HOW FIRM CHARACTERISTICS AFFECT CAPITAL STRUCTURE: AN INTERNATIONAL COMPARISON (1999)HOW FIRM CHARACTERISTICS AFFE…What Do We Know about Capital Structure? Some Evidence from International Data (1995)What Do We Know about Capital…Testing Static Trade-off Against Pecking Order Models of Capital Structure (1994)Testing Static Trade-off Agai…An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure (1988)An Empirical Test of the Impa…Capital and Ownership Structure: A Comparison of United States and Japanese Manufacturing Corporations (1986)Capital and Ownership Structu…The Capital Structure Puzzle (1984)The Capital Structure PuzzleThe Capital Structure Puzzle (1984)The Capital Structure PuzzleCorporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)Corporate Financing and Inves…Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Target capital structure for managerial decision making: Dynamics and determinants (2022)Target capital structure for …Impact of cash surplus on firm’s capital structure: validation of pecking order theory (2021)Impact of cash surplus on fir…Capital structure determinants for arts nonprofits (2021)Capital structure determinant…The Determinants of Capital Structure in Manufacturing Companies Listed on the Indonesia Stock Exchange with the Firms’ Size As a Moderating Variable (2019)The Determinants of Capital S…Determinants of capital structures based on the Pecking Order Theory and Trade-off Theory (2019)Determinants of capital struc…Firm Level Determinants of Capital Structure: Evidence From Egypt (2018)Firm Level Determinants of Ca…Debt Financing Option and Financial Performance of Micro and Small Enterprises: A Critical Literature Review (2017)Debt Financing Option and Fin…A Study of Determinants of Capital Structure through Panel Data Analysis of Firms Listed in NSE CNX 500 (2016)A Study of Determinants of Ca…Mediating role of access to finance and moderating role of business environment on the relationship between strategic orientation attributes and performance of small and medium enterprises in Nigeria (2015)Mediating role of access to f…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Determinants of Capital Structure Choice (1988)Determinants of corporate borrowing (1977)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Testing Tradeoff and Pecking Order Predictions About Dividends and Debt (1999)Capital structure choice: macroeconomic conditions and financial constraints (2003)Corporate cash holdings: An empirical investigation of UK companies (2003)The Determination of Financial Structure: The Incentive-Signalling Approach (1977)Event Studies in Economics and Finance (1997)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Theory of Capital Structure (1991)The Cross-Section of Expected Stock Returns (1992)Managing with Style: The Effect of Managers on Firm Policies (2003)Law, finance, and economic growth in China (2005)The economic implications of corporate financial reporting (2005)Risk, Return, and Equilibrium: Empirical Tests (1973)CEO Overconfidence and Corporate Investment (2005)Partial adjustment toward target capital structures (2005)Econometric Analysis of Panel Data (2021)Management turnover and financial distress (1989)Bankruptcy, boards, banks, and blockholders (1990)Simultaneous Determination of Insider Ownership, Debt, and Dividend Policies (1992)The determinants and implications of corporate cash holdings (1999)Testing Trade-Off and Pecking Order Predictions About Dividends and Debt (2002)Capital Structure Decisions: Which Factors Are Reliably Important? (2007)A Survey of Corporate Governance (1997)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Law and Finance (1998)Corporate Ownership Around the World (1999)
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References

  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1984The Capital Structure Puzzle7,520 cited
  • 1984Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have6,535 cited
  • 1995What Do We Know about Capital Structure? Some Evidence from International Data6,527 cited
  • 2001The theory and practice of corporate finance: evidence from the field5,947 cited
  • 1984The Capital Structure Puzzle3,151 cited
  • 2002Testing the pecking order theory of capital structure2,642 cited
  • 1999Testing static tradeoff against pecking order models of capital structure1This paper has benefited from comments by seminar participants at Boston College, Boston Unsiversity, Dartmouth College, Massachusetts Institute of Technology, University of Massachusetts, Ohio State University, University of California at Los Angeles and the NBER, especially Eugene Fama and Robert Gertner. The usual disclaimers apply. Funding from MIT and the Tuck School at Dartmouth College is gratefuly acknowledged. We also thank two reviewers, Richard S. Ruback and Clifford W. Smith, Jr., for helpful comments.11,755 cited
  • 1994Testing Static Trade-off Against Pecking Order Models of Capital Structure1,164 cited
  • 1988An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure1,083 cited
  • 2004Financing decisions: who issues stock?922 cited
  • 1999HOW FIRM CHARACTERISTICS AFFECT CAPITAL STRUCTURE: AN INTERNATIONAL COMPARISON893 cited

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  • 1986Capital and Ownership Structure: A Comparison of United States and Japanese Manufacturing Corporations661 cited
  • 2001Determinants of capital structure: new evidence from Spanish panel data635 cited
  • 2009The pecking order, debt capacity, and information asymmetry600 cited
  • 2004Corporate Finance in Europe Confronting Theory with Practice448 cited
  • Cited by

    • 2016A Study of Determinants of Capital Structure through Panel Data Analysis of Firms Listed in NSE CNX 50041 cited
    • 2018Firm Level Determinants of Capital Structure: Evidence From Egypt29 cited
    • 2021Impact of cash surplus on firm’s capital structure: validation of pecking order theory24 cited
    • 2019Determinants of capital structures based on the Pecking Order Theory and Trade-off Theory21 cited
    • 2019The Determinants of Capital Structure in Manufacturing Companies Listed on the Indonesia Stock Exchange with the Firms’ Size As a Moderating Variable19 cited
    • 2017Debt Financing Option and Financial Performance of Micro and Small Enterprises: A Critical Literature Review18 cited
    • 2015Mediating role of access to finance and moderating role of business environment on the relationship between strategic orientation attributes and performance of small and medium enterprises in Nigeria16 cited
    • 2022Target capital structure for managerial decision making: Dynamics and determinants16 cited
    • 2021Capital structure determinants for arts nonprofits16 cited