References

• 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
• 1994Investment under Uncertainty9,016 cited
• 1994Corporate Debt Value, Bond Covenants, and Optimal Capital Structure2,732 cited
• 1990Capital Structure and the Informational Role of Debt1,378 cited
• 2005The Value Premium1,334 cited
• 1997How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed1,255 cited
• 2007Do Tests of Capital Structure Theory Mean What They Say?965 cited
• 2001An EBIT‐Based Model of Dynamic Capital Structure957 cited
• 2004Corporate Investment and Asset Price Dynamics: Implications for the Cross‐section of Returns778 cited
• 1969Financial Management and Policy727 cited
• 2016Firing Costs and Capital Structure Decisions620 cited
• 1984The Impact of the Degrees of Operating and Financial Leverage on Systematic Risk of Common Stock582 cited
• 1979Determinants of Financial Structure: A New Methodological Approach552 cited
• 2008Trade-Off and Pecking Order Theories of Debt**We thank Long Chen, Sudipto Dasgupta, Espen Eckbo, Chris Hennessy, Jay Ritter, Michael Roberts, Tan Wang, and Jaime Zender for comments and helpful discussions. Murray Frank thanks Piper Jaffray for financial support. Vidhan Goyal thanks the Research Grants Council of the Hong Kong Special Administrative Region for financial support (Project No. 6489/06H). The literature on capital structure is vast, containing hundreds of papers, and so we cannot hope to cover it all. Inevitably, we have left out a great deal, much of it very important. As such, we apologize in advance for our inevitable oversights. Even more than usual, it must be stressed that this survey reflects only our views.