Heterogeneity in Speed of Adjustment using Finite Mixture Models

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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

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