Seize the moment: opportunism in Australian capital markets
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...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Elsevier BV
2011
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/15226 |
| _version_ | 1848748836502110208 |
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| author | Koh, S. Durand, Robert Watson, I. |
| author_facet | Koh, S. Durand, Robert Watson, I. |
| author_sort | Koh, S. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T07:11:22Z |
| format | Journal Article |
| id | curtin-20.500.11937-15226 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:11:22Z |
| publishDate | 2011 |
| publisher | Elsevier BV |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-152262017-09-13T16:08:46Z Seize the moment: opportunism in Australian capital markets Koh, S. Durand, Robert Watson, I. Opportunistic behavior Capital structure Dynamic leverage behavior 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. 2011 Journal Article http://hdl.handle.net/20.500.11937/15226 10.1016/j.pacfin.2011.01.003 Elsevier BV restricted |
| spellingShingle | Opportunistic behavior Capital structure Dynamic leverage behavior Koh, S. Durand, Robert Watson, I. Seize the moment: opportunism in Australian capital markets |
| title | Seize the moment: opportunism in Australian capital markets |
| title_full | Seize the moment: opportunism in Australian capital markets |
| title_fullStr | Seize the moment: opportunism in Australian capital markets |
| title_full_unstemmed | Seize the moment: opportunism in Australian capital markets |
| title_short | Seize the moment: opportunism in Australian capital markets |
| title_sort | seize the moment: opportunism in australian capital markets |
| topic | Opportunistic behavior Capital structure Dynamic leverage behavior |
| url | http://hdl.handle.net/20.500.11937/15226 |