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The pecking order, debt capacity, and information asymmetry

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References

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1984The Capital Structure Puzzle3,151 cited

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2007Capital Structure Decisions: Which Factors Are Reliably Important?2,853 cited

Cited by

2010Debt Capacity and Tests of Capital Structure Theories614 cited
2009Access to Capital, Capital Structure, and the Funding of the Firm586 cited
2013The mystery of zero-leverage firms539 cited
2005Trade-Off and Pecking Order Theories of Debt535 cited
2011A Review of Empirical Capital Structure Research and Directions for the Future485 cited
2010Hierarchical determinants of capital structure474 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.451 cited
2009Liquidity and Capital Structure315 cited
2010Information asymmetry and the value of cash289 cited
2011Family Control and Financing Decisions269 cited
2013Human capital, capital structure, and employee pay: An empirical analysis238 cited
2010Corporate investment and financing under asymmetric information227 cited
2021On the fast track: Information acquisition costs and information production217 cited
2013Minority Shareholders' Control Rights and the Quality of Corporate Decisions in Weak Investor Protection Countries: A Natural Experiment from China208 cited
2016Information asymmetry, leverage and firm value: Do crisis and growth matter?204 cited
2016Determinants of capital structure in emerging markets: Evidence from Vietnam196 cited