A stubborn persistence: is the stability of leverage ratios determined by the stability of the economy?

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F11%3A00371440" target="_blank" >RIV/67985998:_____/11:00371440 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11640/11:00364563
Result on the web
<a href="http://dx.doi.org/10.1016/j.jcorpfin.2011.07.004" target="_blank" >http://dx.doi.org/10.1016/j.jcorpfin.2011.07.004</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jcorpfin.2011.07.004" target="_blank" >10.1016/j.jcorpfin.2011.07.004</a>

Result language
angličtina
Original language name
A stubborn persistence: is the stability of leverage ratios determined by the stability of the economy?
Original language description
The choice of capital structure firms make is a fundamental issue in the financial literature. According to a recent finding, the capital structure of firms remains almost unchanged during their lives. This stability of leverage ratios is mainly generated by an unobserved firm-specific effect that is liable for the majority of the variation in capital structure. We demonstrate that even substantial changes in the economic environment do not affect the stability of firms' leverage due to the presence ofcredit constraints.
Czech name
—
Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
Z - Vyzkumny zamer (s odkazem do CEZ)

Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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