Seize the moment: opportunism in Australian capital markets

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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...

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Bibliographic Details
Main Authors:	Koh, S., Durand, Robert, Watson, I.
Format:	Journal Article
Published:	Elsevier BV 2011
Subjects:	Opportunistic behavior Capital structure Dynamic leverage behavior
Online Access:	http://hdl.handle.net/20.500.11937/15226

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