Browsing BI Open by Author "Carmichael, Jarrod Anthony"
Now showing items 1-1 of 1
-
The speed of adjustment of capital structure and the long differencing estimator
Carmichael, Jarrod Anthony; Grassel, Ryan Willard (Master thesis, 2017)This thesis estimates the speed of adjustment (SOA) of capital structure using the long differencing estimator and finds that firms adjust back to their target leverage at a moderate pace of 20.9% per year for book ...