Seize the moment: Opportunism in Australian capital markets |
| |
| Authors: | SzeKee Koh Robert B Durand Iain Watson |
| |
| Institution: | 1. University of Western Australia Business School, Australia;2. University of Queensland Business School, Australia |
| |
| Abstract: | This paper examines theories of capital structure using a dataset of listed Australian companies from 1993 to 2005. Companies appear to have target leverage but they take advantage of favorable firm characteristics to achieve these targets. Issuers issue debt when they are profitable. When firms are profitable and perform well in the market, they will issue both debt and equity. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
