Does the Source of Capital Affect Capital Structure

By Michael W. Faulkender, Mitchell A. Petersen. 2003

1,490 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/2d25e88c157776c0c0eaac99efcb8a508ff21901

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. Vidhan K. Goyal
3. Jarrad Harford
4. Murray Z. Frank
5. Vahap Bülent Uysal
6. Mark J. Flannery
7. Murillo Campello
8. Soku Byoun

In Finance

1. V. Dang
2. Vahap Bülent Uysal
3. Vidhan K. Goyal
4. Murray Z. Frank
5. Jarrad Harford
6. Soku Byoun
7. Mark J. Flannery
8. Gordon M. Phillips

Citations in the corpus

• Intangible assets and capital structure (2020, neutral): “…selection on Barclay and Smith (1995), Rajan and Zingales (1995), Graham (2000), Baker and Wurgler (2002), Frank and Goyal (2003), Korajczyk and Levy (2003), Hovakimiam, Hovakimian, and Tehranian (2004), Faulkender and Petersen (2006), Flannery and Rangan (2006), Lemmon, Roberts and Zender.”
• The effect of firm size on the leverage–performance relationship during the financial crisis of 2007–2009 (2015, neutral): “…a change in financial leverage is related to future operating performance, Xu (2012), who find that profitability negatively affects leverage, and Faulkender and Petersen (2006), who report that larger firms tend to be more leveraged, we attempt to examine whether the leverage–performance…”
• Does mandatory IFRS adoption facilitate debt financing? (2015, background): “Following this intuition and in line with prior literature (e.g., Giannetti 2003; Faulkender and Petersen 2006; Fan et al. 2012), we first model market leverage as a function of several factors proxying for the firm’s financing needs and ability to raise debt (i.”
• The Effect of Auditor Quality on Financing Decisions (2009, background): “Faulkender and Petersen (2006) document that companies that have access to public bond markets, as measured by having a debt rating, take on more debt.”
• The choice of corporate liquidity and corporate governance (2009, background): “Prior studies such as Faulkender and Petersen (2006) and Sufi (2006a) suggest that the degree of information asymmetry is important in bank lending.”
• A two-part fractional regression model for the financial leverage decisions of micro, small, medium and large firms (2009, methodology): “Like us, Faulkender and Petersen (2006) and Strebulaev and Yang (2007) found that while larger firms are more likely to have some debt, conditional on having some debt, larger firms are less levered.”
• Trade-Off and Pecking Order Theories of Debt (2007, background): “Strebulaev (2004) analyzed a model quite similar to that of Fischer et al. (1989) and Goldstein et al. (2001). Again, if firms optimally finance only periodically because of transaction costs, then the debt ratios of most firms will deviate from the optimum most of the time. In the model the firm le”
• Labor Unemployment Risk and Corporate Financing Decisions (2013, neutral): “10 Following Faulkender and Petersen (2006), we examine interest coverage in logs to account for the relatively greater importance of equal percentage changes at lower levels of interest coverage.”