Debt Capacity and Tests of Capital Structure Theories

By Mike Lemmon, Jaime F. Zender. Journal of Financial and Quantitative Analysis, 2010

675 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/06758f52728bd1c51f5385129583700a8cd06c2a

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. V. Dang
2. Murillo Campello
3. Heitor Almeida
4. W. Drobetz
5. Ilya A. Strebulaev
6. Soku Byoun
7. Iwan Meier
8. Wolfgang Bessler

In Finance

1. V. Dang
2. Murillo Campello
3. Heitor Almeida
4. Ilya A. Strebulaev
5. W. Drobetz
6. Iwan Meier
7. Wolfgang Bessler
8. Rebekka Haller

In Strategy and Management

1. Murillo Campello
2. V. Dang
3. Heitor Almeida
4. W. Drobetz
5. Iwan Meier
6. Wolfgang Bessler
7. Rebekka Haller
8. Soku Byoun

Citations in the corpus

• Financial Flexibility and Capital Structure Decision (2011, background): “6 Consistent with this argument, firms appear issuing equity before declining earnings (McLaughlin, Safieddine, and Vasudevan (1996), Loughran and Ritter (1997) and Hansen and Crutchley (1990)) or facing cash shortfalls (DeAngelo, DeAngelo and Stulz (2007), Kim and Weisbach (2007) and McLean (2007))”
• Family Control and Financing Decisions (2011, neutral): “Lemmon and Zender (2010) argue that”
• The international zero-leverage phenomenon (2013, positive): “We use Lemmon and Zender’s (2010) debt capacity and size as two proxies for financial constraints.”
• The Mystery of Zero-Leverage Firms (2013, positive): “The book leverage ratio is defined similarly in most recent capital structure papers (e.g., Lemmon, Roberts, and Zender, 2008; Graham and Leary, 2011; Leary and Roberts, 2010; Lemmon and Zender, 2010).”
• The Interplay between Working Capital Management and a Firm’s Financial Performance across the Corporate Life Cycle (2020, background): “Firms at this stage heavily rely on external financing as the demand for capital is higher than their ability to generate funds from internal sources [47].”
• Financing Frictions and the Substitution between Internal and External Funds (2010, background): “, Shyam-Sunder and Myers (1999) and Frank and Goyal (2003)).”
• Employee Treatment and Firm Leverage: A Test of the Stakeholder Theory of Capital Structure (2011, neutral): “6 While our paper investigates the Maksimovic and Titman (1991) theory of capital structure, it is also related to two other theoretical papers that examine the importance of human capital in a firm’s capital structure decision.”