Heterogeneity in Speed of Adjustment using Finite Mixture Models

Heterogeneity in Speed of Adjustment using Finite Mixture Models

Many empirical analyses of firms' speed of leverage adjustment (SOA) impose a strong constraint: an average SOA is estimated for all firms in a sample. We demonstrate the usefulness of finite mixture models (FMM) in corporate finance by analysing estimates of firms' SOA. Applying FMM to a...

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Bibliographic Details
Main Authors: Durand, Robert, Greene, William, Harris, Mark, Khoo, Joye
Format: Journal Article
Language:English
Published: Elsevier 2021
Subjects:
Social Sciences
Economics
Business & Economics
Speed of leverage adjustment
Finite mixture models
Dynamic panel data
OPTIMAL CAPITAL STRUCTURE
PANEL-DATA MODELS
CORPORATE GOVERNANCE
STRUCTURE DECISIONS
DYNAMIC-MODELS
HEALTH-CARE
COMPONENTS
EQUITY
INFORMATION
ESTIMATORS
Online Access:http://hdl.handle.net/20.500.11937/88779

Internet

http://hdl.handle.net/20.500.11937/88779

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