Pecking order theory of capital structure: empirical evidence from dynamic panel data

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Pecking order theory of capital structure: empirical evidence from dynamic panel data

This paper tests the relation between profit and long term debt as well as the relation between profit and total debt in South Africa. This paper specifies a dynamic panel model and uses generalized method of moments (GMM) estimation technique which gives better results. The results show that profit...

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Bibliographic Details
Main Authors:	Tunde, Matemilola Bolaji, Amin Noordin, Bany Ariffin
Format:	Article
Language:	English
Published:	Global Science and Technology Forum 2011
Online Access:	http://psasir.upm.edu.my/id/eprint/22751/ http://psasir.upm.edu.my/id/eprint/22751/1/Pecking%20order%20theory%20of%20capital%20structure.pdf

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