Abstract Based on the Upper Echelon Theory, this paper examined the relationship of CEO
education and experience with the dynamic capital structure (DCS) using the target leverage …

This paper investigates the asymmetric impact of cash flow on firms' leverage adjustments.
We use a dynamic panel threshold model and estimate it with a newly-developed first …

This study addresses the importance of unobservable factor (CEO education) as the
determinant of firm leverage along two stages: target leverage and speed of adjustment …

Using a partial adjustment model of capital structure, this study examines the role of
ownership concentration and board diversity on the speed of adjustment towards optimal …

This study is the first to empirically examine whether the speed of adjustment (SOA) of
capital structure is asymmetric between financially conservative (FC) and non-financially …

Financing decisions such as capital structure have gained much attention in literature of
financial development over the last decade. Capital structure deviations from its optimal …

This study investigates the speed of adjustment (SOA) to target leverage for different industry
sec-tors in Malaysia. Using the two-step system generalized method of moments for 415 non …

This paper aims to investigate the dynamic capital structure of Malaysian firms from upper
echelon perspective. Specifically, we test the speed of adjustment towards the target …

The purpose of this research is to investigate the role of managers' characteristics in the
relationship between the Classes of the cash flow statement and the speed of capital …

Drivers of the Target Financial Leverage and Speed of Adjustment in Small and Medium-Sized
Companies at Different Stages of Life Page 1 Received 8 December 2022; Received in revised …