Global ETD Search
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Showing 1 to 17 of 17 for “"Trade Off Theory"”.
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Testing capital structure theories : Evidence from REITs
The trade-off theory, the pecking order theory and the market timing theory are three competing theories of capital structure that have been widely examined in finance literature. But empirical tests of REITs capital structure were limited.This study employs a partial adjustment model of Fama and …
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Essays on the Dynamics of Capital Structure
Tests of the static trade-off theory that posits that firms move towards the optimum capital structure necessitate a joint hypothesis test - whether firms adjust toward target leverage, and whether the proxy used for target leverage is the true target leverage. Prior studies use the time-series …
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Determinants of Capital Structure in the South African Listed Property Sector
… worldwide counterparts. The regression results offer support for the trade-off theory, pecking order theory and market timing theory in the South African listed property context, and are generally in agreement with international findings. Thus, size is found to be positively correlated to debt …
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Determinants of Capital Structure: the case of MENA countries
… the main theories of capital structure, namely: trade off theory and pecking order theory. The countries included in this thesis are Saudi Arabia, United Arab Emirates (Include both Abo-Dhabi and Dubai stock indexes), Bahrain, Qatar, Kuwait, Oman, Egypt, Morocco, Tunisia, Palestine and Jor- dan. …
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Are the capital structures of JSE listed companies influenced by equity market timing?
… been focused on testing the speed of adjustment theory, pecking order theory and the trade-off theory. This dissertation sets out to test whether evidence of the market timing theory exists in JSE listed firms by applying the method used by De Bie and De Haan (2007) for evidence of market timing …
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An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange
… the results on size and tangibility support the trade-off theory of capital structure.
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The impact of firm size and industry on capital structure decisions
… on the Johannesburg Stock Exchange and tests trade-off theory and pecking order theory for firms of various sizes, firms in different industries and also tests for differences between debt maturities. Multiple fixed effect models are used to firstly test for the main factors that impact …
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An examination of the effect of the global financial crisis on the link between capital structure and firm performance
… capital structure theories, that is, the trade-off theory and perking order theory. The perking order theory assumes that a negative link exists whereas the trade-off theory assumes that a positive relationship exists. ROA is used as a proxy for firm performance. The ratios of total …
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Inter-relationship between the capital structure and distribution policies of companies listed on the JSE
… studies have invoked information costs, the trade-off theory and the pecking-order theory as well as agency problems to explain capital structure and distribution strategies independently. However, the theories of the signalling, pecking-order, trade-off and agency cost suggest that a …
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Determinants of corporate leverage adjustments: A cross-country analysis
… (Graham & Harvey, 2001). Albeit the dynamic trade-off theory predicts that firms have incentives to move toward target debt ratios by reducing any deviation from those targets (Frank & Goyal, 2009), due to substantial financing frictions, i.e. issuance costs or intermediation costs, firms may …
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The impact of leverage on firm performance: evidence from start- ups in Swedan
… Drawing on classical frameworks—namely the trade‐off theory, pecking order theory, and signalling theory—the research situates the role of debt in the context of firms that operate under high uncertainty and limited internal resources. Using a comprehensive population dataset from the …
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A cross sectional study of the capital structures of firms listed on the JSE
… possibly the presence of the pecking order theory. The consumer goods and consumer service industry firms' leverage ratios are mainly determined by the firms' profitability. The health care industry shows signs of the Trade-off Theory being present as the main determinant, being the …
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Seedling xylem anatomy of two Banksia species relative to availability of groundwater
… to as the hydraulic efficiency and safety trade-off theory. However, the traits did vary between the two species, with significantly larger mean Vd and Dv in B. attenuata seedling roots, and significantly higher mean Dv in B. littoralis seedling roots. VL also differed, with B. attenuata …
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The determinants of capital structure : a study of industrial firms listed on the JSE
This study intends to offer further insight into the determinants of capital structure of industrial firms listed on the Johannesburg Stock Exchange. The amount of debt in a firm is an indication of leverage and this study uses various different ratios as a proxy for capital structure. Using …
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Macroeconomic conditions and capital structure: evidence from publicly listed companies in the U.K.
… that is consistent with the pecking order, trade-off and market timing theories. Without considering the effect of 2008 financial crisis, I find that, first, the results from static models and dynamic models of capital structures indicate that leverage is negatively associated with the …
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An agent-based model to simulate virus-based biocontrol for the soybean cyst nematode, Heterodera glycines
… is in agreement with the generally accepted trade-off theory in virulence evolution. However, the evolution of the transmissibility and prevalence curves through time reveal some inconsistencies in the mechanisms of disease spread with respect to theory that require further testing. Testing …
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Le determinanti del ricorso al debito delle piccole e medie imprese italiane: un'analisi empirica
… riferimenti nella letteratura, costituiti dalla Trade-off theory (Modigliani e Miller, 1963, De Angelo e Masulis, 1980, Miller, 1977), dalla Pecking order theory (Myers 1984, Myers e Majluf, 1984) e dalla Financial growth cycle theory (Berger e Udell, 1998), una prima serie di analisi …