教師資料查詢 | 類別: 期刊論文 | 教師: 林俊宏 Chun-Hung Lin (瀏覽個人網頁)

標題:PECKING ORDER THEORY REVISITED: THE ROLE OF AGENCY COST
學年99
學期1
出版(發表)日期2010/09/01
作品名稱PECKING ORDER THEORY REVISITED: THE ROLE OF AGENCY COST
作品名稱(其他語言)
著者Wang, Kuang-cheng A.; Lin, Chun-hung A.
單位淡江大學產業經濟學系
出版者Chichester: Wiley-Blackwell Publishing Ltd.
著錄名稱、卷期、頁數The Manchester School 78(5), pp.395-411
摘要Considering conflicts between shareholders and managers, we revisit the external pecking order of corporate financing under conditions of information asymmetry. With the possibility that debt financing may lead a firm to bankruptcy, we find first that the external pecking order could be reversed. Second, pooling equilibria also exist in our model in two forms: debt issuance and equity issuance. Our results modify pecking-order theory and explain some empirical findings of Jung et al. (Journal of Financial Economics, Vol. 42 (1996), pp. 159–185).
關鍵字
語言英文
ISSN1467-9957
期刊性質國外
收錄於SSCI
產學合作
通訊作者
審稿制度
國別英國
公開徵稿
出版型式電子版
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