In this paper, we analyze the impact of leverage deviation (ie, actual minus target optimal
leverage) on the implied cost of equity capital. Our special focus is on whether (and to what …

We test capital structure adjustments under dynamic trade-off theory using the standard
partial adjustment framework, in light of long-and short-run economic policy uncertainties …

We examine the impact of corporate sustainability performance (CSP) on the speed at which
firms adjust their leverage ratios to the target levels for a large sample of 31 countries from …

We synthesize empirical studies on the determinants of the heterogeneity in the adjustment
speed (speed of adjustment; SOA) of capital structure. These determinants are categorized …

This paper establishes that credit ratings affect the choice of payment method in mergers
and acquisitions. We find that bidders holding a high rating level are more likely to use cash …

This paper examines the impact of debt covenants on the speed of capital structure
adjustment. Overall, we find that covenants lower the speed of adjustment by 10–13 …

Industrialization of the construction process is increasing around the world due to its
potential to improve safety, sustainability, effectiveness, productivity and efficiency. While …

Does corporate governance affect the timing of large investment projects? Hazard model
estimates suggest strong shareholder governance may deter managers from pursuing large …

Abstract Even 50 years after Modigliani/Miller's irrelevance theorem, the basic question of
how firms choose their capital structure remains unclear. This survey paper aims at …

This study investigates how uncertainty affects firms' target capital structure using a panel
data set of US public manufacturers between 2003 and 2018 and finds that high-uncertainty …