The effect of macroeconomic conditions on the capital structure adjustment speed of South African listed firms
This paper uses a two-stage, dynamic partial adjustment model which accounts for potential mean-reversion, with the Arellano-Bover GMM estimation technique, to observe the effect of various macroeconomic variables on the speed at which South African listed firms adjust toward their target capital st...
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Format: | Others |
Language: | en |
Published: |
2012
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Online Access: | http://hdl.handle.net/10539/11576 |