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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Bibliographic Details
Main Author: Krishna, Sudha
Format: Others
Language:en
Published: 2012
Subjects:
Online Access:http://hdl.handle.net/10539/11576