Institutional Determinants of Capital Structure Adjustment Speeds

By Özde Öztekin, Mark J. Flannery. 2012

596 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/3f00614f8e90aad9d623887900718c5dc6185bbd

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Citations in the corpus

In Search of Robust Methods for Dynamic Panel Data Models in Empirical Corporate Finance (2015, unknown): “In (untabulated) robustness checks, we consider alternative sets of explanatory variables, as suggested by Rajan and Zingales (1995), and Frank and Goyal (2009), and obtain qualitatively similar results.”
Global leverage adjustments, uncertainty, and country institutional strength (2018, result): “In line with the previous literature (Öztekin and Flannery, 2012), the direct effect of better institutions is to increase leverage adjustment speed due to lower adjustment costs.”
Stock Market Listing and the Use of Trade Credit: Evidence from Public and Private Firms (2017, methodology): “We note that this approach is based on several studies in the capital structure literature (e.g., Flannery and Rangan, 2006; Öztekin and Flannery, 2012) and involves estimating Model (8) in a single step.”
Capital Structure Decisions around the World: Which Factors Are Reliably Important? (2015, unknown): “, Rajan and Zingales (1995), Demirgüç-Kunt and Maksimovic (1999), Booth et al.”
Firm crash risk, information environment, and speed of leverage adjustment (2015, unknown): “…macro information environment on different aspects of financial markets, including institutional shareholding (Li et al., 2006) foreign investor shareholding (Haw et al., 2004; Gelos and Wei, 2005; Leuz et al., 2009), and leverage adjustment (Oztekin and Flannery, 2012), has been well documented.”
Fire‐Sale Spillovers and Systemic Risk (2015, unknown): “As explanatory variables wit for the adjustment speed, we use variables capturing both costs of adjusting leverage as well as regulatory pressures to adjust it (Berger et al., 2008; Öztekin and Flannery, 2012).”
Why bank capital matters for monetary policy (2016, unknown): “Second, we include bank-level fixed effects in the regression (ie by allowing to the constant in the long-term relationship to be different across banks) based on the idea that firms adjust their equity to unobserved bank-specific targets (Lemmon et al, 2008; Gropp and Heider, 2010; Öztekin and Flan”
Institutions and corporate capital structure in the MENA region (2016, unknown): “7 Following prior work (Ozkan, 2001; Fama and French, 2002; Leary and Roberts, 2005; Flannery and Rangan, 2006; Kayhan and Titman, 2007; Lockhart, 2010; Gungoraydinoglu and Öztekin, 2011; Oztekin and Flannery, 2012; Flannery et al., 2013; among others), we use a dynamic partial adjustment model.”
Earnings Management, Capital Structure and the Role of Institutional Environments (2016, background): “Oztekin and Flannery (2012) find that transaction costs of external financing are lower and the speed of leverage adjustment is higher in countries with better institutional environments.”
Bank capital management: International evidence (2015, background): “To explore which factors are related to the observed cross-country differences in the adjustment speeds, we follow Berger et al. (2008) and Oztekin and Flannery (2012) and estimate equation (5) in two steps.”