Real Flexibility and Financial Structure: An Empirical Analysis
By Peter Mackay. 2003
110 citations recorded by the source corpus.
Subfields: Accounting, Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/92627fe7f104b631c05f25955d0f8bb3e700a04f
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
- Sara B. Moeller
- Efraim Benmelech
- Gordon M. Phillips
- Peter Mackay
- Kenneth R. Ahern
- L. Frésard
- Amir Sufi
- Jarrad Harford
In Economics and Econometrics
- Sara B. Moeller
- Efraim Benmelech
- Gordon M. Phillips
- Peter Mackay
- Adriano A. Rampini
- Vojislav Maksimovic
- Xiaoyang Li
- Ashiq Ali
In Finance
- Sara B. Moeller
- Efraim Benmelech
- Gordon M. Phillips
- Peter Mackay
- Kenneth R. Ahern
- L. Frésard
- Jarrad Harford
- Micah S. Officer
Citations in the corpus
- The Value of Corporate Risk Management (2007, methodology): “First, following Whited (1992) and 20 MacKay (2003), Model 6 incorporates a quadratic adjustment-cost function by including the squared quarterly change in output and input quantities (Δ2y and Δ2x) in the sales and cost equations.”
- Asset Salability and Debt Maturity: Evidence from Nineteenth-Century American Railroads (2009, background): “My paper is also related to MacKay (2003), who finds that investment flexibility increases debt capacity and prolongs debt maturity by making collateral assets more liquid.”
- Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2005, unknown): “It can be modified for use in a panel data set by estimating only correlations between lagged residuals in the same cluster (see Bertrand, Duflo, and Mullainathan, 2004, Doidge, 2004, MacKay, 2003, Brockman and Chung, 2001).”
- How Does Industry Affect Firm Financial Structure? (2005, background): “1 Recent empirical papers on financial structure examine static trade-off and pecking-order theories (Shyam-Sunder and Myers, 1999, Fama and French, 2002, Frank and Goyal, 2003), taxes (Graham, 1996, 2000), managerial fixed effects (Bertrand and Schoar, 2002), technology (MacKay, 2003), and stock re”
- Investment and Competition (2006, unknown): “Although we view the capitallabor ratio as a proxy for risk (“operating leverage”), it could also reflect real-side flexibility, following the interpretation given by Leahy and Whited (1996) and Mackay (2003).”