| dc.contributor | 金融系 | |
| dc.creator (作者) | Huang, Hsing-Hua;Chen, Wei-Kuang;Lin, Chia-Fan | |
| dc.creator (作者) | 陳威光;林家帆 | zh_TW |
| dc.date (日期) | 2011-03 | |
| dc.date.accessioned | 15-Sep-2015 14:42:57 (UTC+8) | - |
| dc.date.available | 15-Sep-2015 14:42:57 (UTC+8) | - |
| dc.date.issued (上傳時間) | 15-Sep-2015 14:42:57 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/78480 | - |
| dc.description.abstract (摘要) | This study develops a simple structural model to scrutinize a firm`s capital structure choices in consideration of macroeconomic conditions and firm-level productivity shocks by which the dynamics of the firm`s unlevered asset value and EBIT are endogenously determined. The model particularly generates the implication that the optimal debt ratio is negatively correlated to the return volatility of macroeconomic conditions, but positively correlated to that of firm-level productivity. We further provide some supportive empirical evidence from US manufacturing firms. | |
| dc.format.extent | 159 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Middle Eastern Finance and Economics, 11, 44-52 | |
| dc.subject (關鍵詞) | Capital;Capital Structure;Firm;Firm Level;Manufacturing;Productivity | |
| dc.title (題名) | Macroeconomic Conditions, Firm-Level Productivity, and Capital Structure Choices | |
| dc.type (資料類型) | article | en |
