Debt-equity choices, R&D investment and market timing

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Debt-equity choices, R&D investment and market timing

In this paper, we examine whether managers time their debt-equity choices to exploit market mispricing. Controlling for the level of external financing and corporate investment activities, we find evidence consistent with the market timing hypothesis. We find managers issue more equity relative to d...

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Bibliographic Details
Main Authors:	Lewis, Craig M, Tan, Yongxian
Format:	Journal Article
Published:	2016
Online Access:	http://hdl.handle.net/20.500.11937/89112

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