Revisiting the Zero-Leverage Puzzle: the Perspectives of R&D, Market Competition and Equity Financing
This thesis investigates a puzzling finding in capital structure literature. A large proportion of firms absolutely eschew debt financing, leaving a substantial fraction of their value on the table by not taking the tax benefit. This phenomenon is becoming increasingly prevalent around the world....
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| Format: | Thesis (University of Nottingham only) |
| Language: | English |
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2023
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| Online Access: | https://eprints.nottingham.ac.uk/73852/ |